U.S. upper Midwest factory activity contracts in October

[October 30, 2015]  (Reuters) - A measure of factory activity in the U.S. upper Midwest region fell for a seventh straight month in October but at a slower pace than the previous month, Marquette University and the Institute for Supply Management-Milwaukee said on Friday.

Their index on manufacturing in the Milwaukee region rebounded to 46.66 from September's 39.44 which was the lowest level of the year.

A reading below 50 indicates regional manufacturing activity is contracting.

Most key components including new orders and production rose in October but remained below the 50 threshold. The employment measure showed the biggest improvement, rising to 51.44 from 41.88 in September.

The survey's six-month business outlook fell to 50.0 in October from 57.7 in September.

(Reporting by Richard Leong)

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