US ISM manufacturing index hits six-year low

The US ISM manufacturing index fell to its lowest level since July 2009 last month, figures released on Tuesday showed.

The index fell to 48.6 from 50.1 in November, remaining marginally above analysts’ expectations for a 50.5 reading.

The sub-index tracking new orders fell four points to 48.9, reaching the lowest level in over three years, while the employment gauge rose 3.7 points to 51.3.

"On balance, the November ISM results suggest that the tentative stabilization in some manufacturing indicators over the past two months was indeed temporary, and the US manufacturing sector likely faces another leg down," said analysts at Barclays.