June ISM manufacturing gauge turns below 50%

WASHINGTON (MarketWatch)
Manufacturing activity in the U.S. dropped in June into contraction territory for the first time since July 2009, the Institute for Supply Management said Monday
The ISM dropped to 49.7% from 53.5% in May, against a MarketWatch-compiled economist poll of 52.3%
The new-orders index dropped 12.3 percentage points in June, registering 47.8% and indicating contraction in new orders for the first time since April 2009