Manufacturing in the U.S. unexpectedly contracted in November, reflecting weaker business demand, slower exports and disruptions from superstorm Sandy. The Institute for Supply Management’s factory index decreased to 49.5 last month, the lowest since July 2009, from 51.7 in October, the Tempe, Arizona-based group said today. Economists projected the index would ease to 51.4, according to the median forecast in a Bloomberg survey. A reading of 50 marks the dividing line between expansion and contraction. Less corporate investment in equipment as U.S. lawmakers debate the nation’s budget, weaker orders from overseas ... (full story)