American Manufacturing Contracts for Fifth Straight Month
January 3, 2020
U.S. manufacturing is starting 2020 on a down note. December marks the fifth consecutive month that has seen manufacturing shrink as trade tensions continue to dampen the sector.
The Institute for Supply Management’s factory index fell to 47.2 in December, down from 48.1 the previous month. Any above 50 indicates expansion, while a reading below 50 indicates contraction. Readings have been below 50 since June. December’s reading is the lowest in over a decade.