The Institute of Supply Management’s index of manufacturing activity released Friday hit its lowest level since the end of the Great Recession in December.
Why it matters: It shows worsening conditions for the U.S. manufacturing sector, which has been in contraction for five straight months, and reignites concerns about the trade war’s impact on the economy.
Stocks, already in the red after a U.S. airstrike killed a top Iranian general, fell to the lowest levels of the day following the release of the data.
BREAKING: ISM Manufacturing Index comes in at 47.2 for December, the lowest since June 2009 https://t.co/Aq6flPRbhL
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