The Institute of Supply Management's manufacturing purchasing managers' index logged its lowest level since June 2009 at 47.2, compared with the consensus forecast of 49. It stood at 48.1 in November. Any number below 50 denotes a contraction.Uncertainties surrounding the US-China trade war weighed on the sector last year. And while Washington and Beijing stand to sign a preliminary trade deal on January 15, economic data from December was still deflated because of the spat.
Last week, the Federal Reserve argued in a paper that import tariffs hurt US manufacturing."A positive effect from import protection is offset by larger negative effects from rising input costs and retaliatory tariffs," it said.Read MoreEven though the US economy is driven primarily by consumer spending, the on-going manufacturing slump is affecting GDP forecasts for the final quarter of 2019. The New York Fed lowered its fourth quarter growth expectations to 1.1% from 1.
Gee, how about that. People who voted for the 'Chump' believeing the Unqualified TV star has again lied and broke once more a promise STILL want to vote for this creep! Cas he isn't a person of color. These same people need to be deported!
I'm sorry, I just don't see ANY legitimate evidence of this. Every manufacturing company in a 50 mile radius of me is desperate to hire.
Good news is after phase one signed between US and China things will get better.
What factory down turn Need more information
But, but..the stock market
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Source: MarketWatch - 🏆 3. / 97 Read more »
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