America’s manufacturing sector shrank for the first time in nearly a decade

American manufacturing activity is slowing as rising tariffs have made materials more expensive. The sector shrunk for the first time since September 2009, according to IHS Markit.

Markit’s flash manufacturing purchasing managers’ index for August fell just below 50, indicating a contraction. It was a 119-month low for the index. A number below 50 means a sector is contracting, while a number above 50 denotes growth.

The global manufacturing sector might already be in a recession, said Charles Schwab chief investment strategist Liz Ann Sonders during CNN’s digital live show Markets Now on Wednesday.

Full article at: CNN

Article submitted by: Bobavette