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Thread: CNBC: Manufacturing Sector Contracts for First Time in a Decade

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    Registered User DraftBoy's Avatar
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    CNBC: Manufacturing Sector Contracts for First Time in a Decade

    https://www.cnbc.com/2019/08/22/manu...hs-markit.html

    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.

    “Manufacturing companies continued to feel the impact of slowing global economic conditions,” Tim Moore, economics associate director at Markit, said in a statement Thursday. “August’s survey data provides a clear signal that economic growth has continued to soften in the third quarter.”

    Manufacturing had been one of the big winners during the Trump administration, but the tit-for-tat tariffs in the U.S.-China trade war have taken a big bite from the sector. U.S. manufacturing activity slowed to a nearly three-year low in July, based on data from the Institute for Supply Management.
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    Acid Douching Asswipe OpIv37's Avatar
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    Re: CNBC: Manufacturing Sector Contracts for First Time in a Decade

    Tired of winning yet?

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    notacon (08-23-2019)

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    Re: CNBC: Manufacturing Sector Contracts for First Time in a Decade

    Of course it is. And it's ALLL Trump's fault.

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