US manufacturing activity dives to more than 9-year low on trade war worries, survey shows [CNBC]
IHS Markit Ltd. Common Shares (INFO)
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Source: CNBC
US manufacturing activity dives to more than 9-year low on trade war worries, survey shows U.S. manufacturer growth hit new lows in May, the latest sign that the trade war may be slowing the economy. The U.S. manufacturing PMI (Purchasing Managers Index) was 50.6 in May, the lowest level since September 2009, according to results from financial data firm IHS Markit released Thursday. "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. 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. "The slowdown has been led by manufacturing, but shows increasing signs of spreading to services... wars remained top of the list of concerns among manufacturers, alon
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