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Manufacturing sector contracts for the first time in nearly a decade
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| Contributor | RP |
| Last Edited | RP Aug 22, 2019 01:46pm |
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| Category | Report |
| Author | Yun Li |
| News Date | Thursday, August 22, 2019 03:00:00 PM UTC0:0 |
| Description | U.S. manufacturer growth slowed to the lowest level in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.
The U.S. manufacturing PMI (purchasing managers’ index) was 49.9 in August, down from 50.4 in July and below the neutral 50.0 threshold for the first time since September 2009, according to IHS Markit.
Any reading below 50 signals a contraction. The survey is an initial reading for the month of August. The final figure will be released Sept. 3. |
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