For the fourth consecutive month
Manufacturing contracts in the US
US manufacturing production. It deteriorated for the fourth consecutive month, damaged by trade conflicts and a weakening of the world economy.
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index fell to 48.1 last month from 48.3 in October. Anything below 50 signs of contraction. American factories have been on a losing streak since August.
New orders, production and contracting were reduced for the fourth consecutive month. Export orders fell in November after increasing in October.
Economists expected the November general index to recover but remain below 50.
President Donald Trump has imposed import taxes on foreign steel, aluminum and thousands of products from China. Companies have been reluctant to invest until they have a clearer idea of whether, when and how trade disputes will end.