US factory activity shrank in October for an eighth straight month, driven by a pullback in production and tepid demand. The Institute for Supply Management’s manufacturing index eased 0.4 point to 48.7, according to data released Monday. Readings below 50 indicate contraction, and the measure has been stuck in a narrow range for most of this year. Most Read from Bloomberg The group’s production index slid 2.8 points to 48.2, marking the second month in the last three that output has contracted. The wea ...