U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.
The U.S. manufacturing PMI was 50.6 in May, the lowest level since September 2009, according to IHS Markit."Growth of business activity slowed sharply in May as trade war worries and increased uncertainty dealt a further blow to order book growth and business confidence," said Chris Williamson, Markit's chief business economist.
The U.S. manufacturing PMI was 50.6 in May, the lowest level since September 2009, according to results from financial data firm IHS Markit released Thursday. U.S. overall business activity growth also faltered to a three-year low as the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index dropped to 50.9 in May, indicating the slowest expansion since May 2016.
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