U.S. manufacturing fell deeper into a contraction last month, erasing hope of a quick turnaround for the industry and handing a blow to President Trump’s promises that he would revive blue-collar jobs and companies.
September marked the worst month for U.S. manufacturing in more than a decade — since June 2009 — according to the closely watched Institute for Supply Management’s manufacturing index. Companies blamed Trump’s escalating trade war for many of their woes, putting pressure on the White House to show progress soon. Manufacturing remains a prominent industry in many swing states.
“Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019. Overall, sentiment this month remains cautious regarding near-term growth,” said Timothy R. Fiore, chair of ISM.
