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In this 2012 file photo, oil field workers drill into the Gypsum Hills near Medicine Lodge, Kan. U.S. factory activity grew in October 2015 at its slowest pace since May 2013, the Institute for Supply Management reported Monday, Nov. 2, 2015, as manufacturers pared their stockpiles and cut jobs. Sharp falls in oil and natural gas prices have caused drilling firms to cut back on orders for steel pipe and other equipment used to build rigs. (AP Photo/Orlin Wagner, File)
In this 2012 file photo, oil field workers drill into the Gypsum Hills near Medicine Lodge, Kan. U.S. factory activity grew in October 2015 at its slowest pace since May 2013, the Institute for Supply Management reported Monday, Nov. 2, 2015, as manufacturers pared their stockpiles and cut jobs. Sharp falls in oil and natural gas prices have caused drilling firms to cut back on orders for steel pipe and other equipment used to build rigs. (AP Photo/Orlin Wagner, File)

US factories grow at slowest pace in 2½ years; hiring falls

WASHINGTON (AP) — U.S. factory activity grew last month at its slowest pace since May 2013 as manufacturers pared their stockpiles and cut jobs. The Institute for Supply Management said Monday that its index of factory activity slipped to 50.1 in October from 50.2 in September. The figures barely signal growth, which is any reading above ...

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