ISM Factory Index Falls in October

The Institute for Supply Management’s manufacturing index declined in October, ISM said Thursday.

ISM’s factory index fell to a 50.9 reading, from 52 in September, the group said. Readings above 50 indicate expansion.

Economists had predicted the index would fall to 51.5, Bloomberg reported.

The production index fell to 49.6, contracting for the first time since January, from 54.6, ISM said.

The factory sector is one of trucking’s largest and most important customers.