Manufacturers shrink for fifth month in a row. ISM index hits lowest level since May 2020
The numbers: A key barometer of American factories was negative in March for the fifth month in a row, reflecting an ongoing struggle by a key part of the economy to resume growing again.
Numbers... The numbers: A key barometer of American factories was negative in March for the fifth month in a row, reflecting an ongoing struggle by a key part of the economy to resume growing again. Numbers below 50% signal the manufacturing sector is contracting. The last time the index has fallen five months in a row was in 2019 during a trade fight with China.
While the shortages are clearing up and inflation is slowing, interest rates are still rising and boosting the odds of recession both in the U.S. and abroad.
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