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Commodity Index Extends Decline

Index at lowest level since October after disappointing U.S. jobs report.

By Mark Shenk, Bloomberg | Updated on June 01, 2012

Commodities extended their decline, touching the lowest level in almost eight months, after U.S. employers created fewer jobs than economists estimated and Chinese manufacturing slowed.

The Standard & Poor’s GSCI Spot Index fell 2.1 percent to 583.53 at 10:27 a.m. in New York, after touching 578.35, the lowest level since Oct. 4. The index has dropped 6 percent this week, heading for a fifth straight decline and the biggest since September. Oil, natural gas and gasoline led the losses.

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