Fighting to stave off any prolonged damage from the current global economic crisis, manufacturers will face increasingly difficult challenges in the near term, according to the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook — September 2008, a leading indicator for the industrial sector.
 
The September 2008 composite index registered a drop to 48 from the 50 reported in the June 2008 report. At this level, the index indicates that overall manufacturing activity is expected to contract over the next three to six months. It should be noted, however, that the index measures the direction of change rather than the absolute strength of activity in manufacturing.
 
In line with other recent economic indicators, the index is at the lowest point …