Tuesday, September 03, 2019 5:07:58 PM
U.S. Manufacturing Gauge Contracts for First Time in Three Years
https://finance.yahoo.com/news/u-manufacturing-contracts-first-time-140000169.html
Big Names are falling: BA GS HD UNH AXL CMC LPX
A key U.S. factory gauge unexpectedly contracted for the first time since 2016, sending stocks and bond yields lower and boosting expectations for interest-rate cuts as global manufacturing woes deepen.
The Institute for Supply Management’s purchasing managers index fell to 49.1 in August, weaker than all forecasts in a Bloomberg survey of economists, data released Tuesday showed. Figures below 50 indicate the manufacturing economy is generally shrinking. The group’s gauge of new orders dropped to a more than seven-year low, while the production index hit the lowest since late 2015.
The data add to concern a broader U.S. recession is coming and may complicate the re-election chances of President Donald Trump, whose pledges to revive manufacturing have been a signature issue. At the same time, Trump’s escalating tariffs on imports from China have been a major reason behind factory weakness that threatens to spread to consumer spending, which accounts for about two-thirds of the world’s largest economy.
https://finance.yahoo.com/news/u-manufacturing-contracts-first-time-140000169.html
Big Names are falling: BA GS HD UNH AXL CMC LPX
A key U.S. factory gauge unexpectedly contracted for the first time since 2016, sending stocks and bond yields lower and boosting expectations for interest-rate cuts as global manufacturing woes deepen.
The Institute for Supply Management’s purchasing managers index fell to 49.1 in August, weaker than all forecasts in a Bloomberg survey of economists, data released Tuesday showed. Figures below 50 indicate the manufacturing economy is generally shrinking. The group’s gauge of new orders dropped to a more than seven-year low, while the production index hit the lowest since late 2015.
The data add to concern a broader U.S. recession is coming and may complicate the re-election chances of President Donald Trump, whose pledges to revive manufacturing have been a signature issue. At the same time, Trump’s escalating tariffs on imports from China have been a major reason behind factory weakness that threatens to spread to consumer spending, which accounts for about two-thirds of the world’s largest economy.
My post is for Your Eyes only and my entertainment
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
