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US Manufacturing Nearly Brakes, Price Pressures Abating

Started by Epoch-Times-Bot, Oct 04, 2022, 01:15 PM

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Epoch-Times-Bot

Oct 04, 2022, 01:15 PM
US Manufacturing Nearly Brakes, Price Pressures Abating

WASHINGTON—U.S. manufacturing activity grew at its slowest pace in nearly 2–1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation.
The Institute for Supply Management (ISM) survey on Monday also showed a measure of manufacturing employment contracted last month for the fourth time this year. A gauge of inflation at the factory gate decelerated for a sixth straight month.
ISM Manufacturing Business Survey Committee chair Timothy Fiore said “companies are now managing head counts through hiring freezes and attrition to lower levels, with medium- and long-term demand more uncertain.”...

Source: US Manufacturing Nearly Brakes, Price Pressures Abating

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