No signs yet of U.S. factory deterioration: ISM's Ore

NEW YORK (Reuters) - The subprime-inspired turbulence in financial markets has yet to have a large impact on the U.S. factory sector, Norbert Ore chairman of the Institute for Supply Management's manufacturing business survey committee said on Tuesday.

There are also no signs yet of the economy deteriorating significantly, Ore told a teleconference with journalists. He added, though, that it will be difficult for the ISM index to do significantly better than its latest reading of 52.9.

"It's going to be hard to do a whole lot better than that. If we average 52.9 for the balance of the year I think that it would be outstanding," Ore said.