WINNING: US Manufacturing Contracts To Decade Low

MarketWatch reports:

Manufacturing contracted for a second consecutive month in September, falling to lowest its level of activity in a decade, according to the Institute for Supply Management (ISM). The group’s production manufacturing index slid to 47.8, down from 49.1 percent in August. Any reading below 50 percent indicates contraction.

Trade was one of the main factors weighing down manufacturing. “Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019. Overall, sentiment this month remains cautious regarding near-term growth,” said ISM Chair Timothy R. Fiore.