Manufacturing activity in the United States fell to a 26 year low level in October which clearly indicates that US manufacturing sector is in recession.

As per Institute of Supply Management's (ISM) latest report manufacturing index tumbled to 38.9 in October compared to 43.5 in September.

Any reading below 50 indicates that sector is in contraction or in downward trend. It has been hovering around the 50 mark since September 2007.