U.S. manufacturers stuck in negative territory for sixth month in a row, ISM finds
The Institute for Supply Management’s manufacturing survey rose to 47.1% from a three-year low of 46.3% in the prior month.The Institute for Supply Management’s manufacturing survey rose to 47.1% from a three-year low of 46.3% in the prior month.
Big picture: Manufacturers were struggling with weaker demand, exacerbated by a shift in spending patterns among U.S. households toward services and away from goods. “This has made for a significant slowdown in sales orders for the last number of months,” said an executive at a machinery manufacturer surveyed by the ISM.
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