US commodity prices touch 59-year low ISM

Dec 01, 2008 | 06:59 AM |

A commodity prices index touched a 59-year low in November, according to the Institute for Supply Management (ISM), Tempe, Ariz.

The group's manufacturing purchasing managers index (PMI) fell for the fifth consecutive month in November to 36.2, down 2.7 points from 38.9 in October and well below the 2008 high of 50.7 recorded in January; a reading below 50 percent indicates that the manufacturing economy generally is contracting, while a PMI under 41.1, over a period of....

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