Manufacturing activity gets impacted by Trumps policy
(MENAFN) According to recent reports, manufacturing in the United States continued its downward trend in May, driven by ongoing concerns surrounding trade policies. The Institute for Supply Management (ISM) revealed that its manufacturing activity index dropped to 48.5 in May from 48.7 in April, aligning with economists' expectations.
“That brought the index to its lowest level since November, as activity fell further below the 50-mark that divides growth and contraction,” noted the report on Monday. “It was last above 50 in January and February, though that followed 26 consecutive months of contraction.”
Within the survey, demand indicators painted a mixed picture, explained Susan Spence, chair of the ISM Manufacturing Business Survey Committee. While new orders and backlog of orders both shrank at slower rates than in April, inventories held by customers and new export orders saw steeper contractions.
Overall, the data highlights that U.S. factories are grappling with an uncertain trade landscape, weighing on production and sentiment alike.
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