U.S. manufacturing PMI slumps to 9-year low
The numbers: Faced with less demand from customers and a flareup in U.S.-China trade tensions, American businesses grew in May at the slowest pace since before President Trump was elected, a pair of new surveys show.
Any number over 50 signifies that companies are growing, but the sharp decline in the indexes this year suggests the U.S. economy could slow in the months ahead, especially if the dispute with China drags on. Big picture: The ongoing trade war with China and resulting tit-for-tat tariffs has taken a toll on American companies. They’ve lost some sales, had to find new suppliers and are generally hesitant about what to do next because of trade tensions.
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