Manufacturing Survey Shows Worst Reading in a Decade

Manufacturing Survey Shows Worst Reading in a Decade

A widely watched manufacturing index showed last month as the weakest month for the US factory sector since June 2009. The Institute for Supply Management’s (ISM) purchasing managers’ index came in at 47.8% for September — the second consecutive month of contraction. Figures below 50% signal negative growth. In August, US manufacturing flashed its first contraction in more than three years. “Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019,” said Timothy Fiore, chairman of ISM. “Overall, sentiment this month remains cautious regarding near-term growth.”

 

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