According to the news, the US manufacturing industry is shrinking. This hasn't happened since 2009? So, why now?
Tariffs are one potential reason we are seeing these changes. The trade war between the US and China and uncertainty about the future is likely making an impact as well.
CNN reported, "The August decline comes on the back of weak new orders, which offset slightly faster output, according to Markit. Manufacturing output rose to a two-month high of 50.6."
Let's see what this fall brings for the industry!
"August's survey data provides a clear signal that economic growth has continued to soften in the third quarter," said IHS Markit economic associate director Tim Moore.But the "most concerning aspect" of the latest data is a slowdown in new business growth, which fell to its weakest level in a decade, Moore said.Read More