Financial Times (September 4)
“The US manufacturing sector has contracted for the first time in three years as the US-China trade war weighted on the industrial economy and added to fears over slowing domestic growth.” While one quarters manufacturing results do not necessarily lead to a US recession, “the details of yesterday’s ISM report were ugly, with new orders, production and employment sub-indices all contracting.”
Tags: China, Contracted, Fears, Growth, Industrial economy, ISM, Manufacturing, Orders, Recession, Slowing, Trade war, US
Reuters (February 28)
“Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad.”
Tags: China, Cracks, Economy, Exports, Factory, Financial Crisis, Orders, Weak demand