Press "Enter" to skip to content

U.S. manufacturers experience worst month since 2007-2009 Great Recession, ISM finds

ISM manufacturing index drops to 47.8%; Trump blasts Fed again

The numbers: American manufacturers posted the biggest contraction in September since the end of the 2007-2009 recession, reflecting a slowdown in the U.S. and global economies made worse by a tense trade war with China.

The Institute for Supply Management said its manufacturing index fell to 47.8% last month from 49.1%, marking the lowest level since June 2009. That’s when the Great Recession ended.

Economists surveyed by MarketWatch had forecast the index to total 50.2%.

The sharp decline in the index raised the specter of recession, wiping out early Wall Street gains and sending stocks lower. Readings over 50% signal business conditions are getting better, below 50% indicates they are getting worse.

President Trump quickly took to Twitter to blast the Federal Reserve again, blaming the central bank for keeping U.S. interest rates too high.

“READ MORE…”

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.