US manufacturing activity dives to more than 9-year low on trade war worries, survey shows

U.S. manufacturer growth hit a multiyear low 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.
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