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December 1, 2009

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Sector growing, but energy prices having effect

Thursday, Sept. 1, 2005 | 9:29 a.m.

NEW YORK -- The nation's manufacturing sector extended its growth streak in August, but its pace was not as robust as July's, in part because of rising energy prices. A drop in new orders indicated a possible slowing of business ahead.

The Institute for Supply Management, which issued its monthly report on the U.S. economy's industrial sector today, said its manufacturing index was at 53.6 percent in August, down from July's 56.6 percent. While U.S. manufacturing grew for the 27th consecutive month, executives expressed concerns about whether the growth can be sustained amid the persistent rise in energy prices.

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