US ISM manufacturing index hits lowest level since May 2013

The US ISM manufacturing index fell to its lowest level since May 2013 last month, figures released on Monday showed.

The index fell to 50.1 from 50.2 in September, remaining marginally above analysts’ expectations for a 50 reading.

The employment sub-index declined to 47.6, its lowest level post 2009 recession, while the ISM’s new-orders index climbed 2.8 points to a three-month high of 52.9.

"This morning’s data indicate that manufacturing activity stabilized in October, but we see further headwinds from a strong dollar and weak foreign demand as likely to prevent a robust rebound," said analysts at Barclays.