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Tire inspector Buddy Rice checks for defects in the tire-verification area at a Michelin manufacturing plant in Greenville, S.C., in July. U.S. factory activity shrank for the third straight month in August as new orders, production and employment all fell. Weak consumer spending and steady declines in business orders for large machinery are slowing factory output. (Associated Press)

Tire inspector Buddy Rice checks for defects in the tire-verification area at a Michelin manufacturing plant in Greenville, S.C., in July. U.S. factory activity shrank for the third straight month in August as new orders, production and employment all fell. Weak consumer spending and steady declines in business orders for large machinery are slowing factory output. (Associated Press)

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