Economics
U.S. Factories Brace for Oil Shock as Growth Cools: Economy
A factory worker assembles transmission components for Chrysler Group LLC vehicles in Tipton, Indiana.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
America’s factories are bracing for trouble and hoping it doesn’t last.
The Institute for Supply Management’s manufacturing index declined to a one-year low of 53.5 from December’s 55.1, according to data from the Tempe, Arizona-based group Monday. Readings greater than 50 signal growth. Another report showed consumer spending fell in December after surging over the previous two months.