U.S. factory activity hit a decade low last month
in the face of President Donald Trump’s trade
conflicts, adding to a weakening picture of the
global economy.
The Institute for Supply Management, an
association of purchasing managers, said that
its manufacturing index shrank for a second
straight month to 47.8% in September, down
from 49.1% in August. Any reading below 50
signals that the sector is contracting.
Investors on Wall Street responded by
dumping stocks, given that the slowdown
in manufacturing fanned fears that growth
might be slowing more than expected
and could squeeze corporate earnings.US MANUFACTURING SINKS TO DECADE-LOW, STOKING ECONOMIC FEAR
Image: Spencer Platt