The US manufacturing sector contracted for a seventh straight month in September, although it did so at a slightly slower rate as demand and production improved.
The Institute for Supply Management's (ISM) manufacturing index ticked up to 49.1 percent last month, up slightly from 48.7 percent in August.
But despite the mild improvement, the figure remained below the 50 percent threshold dividing expansion from contraction.
"In September, US manufacturing activity contracted at a slightly slower rate, with production growth the biggest factor in the 0.4-percentage point gain of the Manufacturing PMI," ISM survey chair Susan Spence said in a statement.
But, she added, the decline in the indexes for new orders and inventories exceeded the increase in the production index, making the improvement "negligible."
The mood among survey respondents was gloomy, with one noting that their business continues to be "severely depressed," pinning the blame on US President Donald Trump's "extreme" tariffs.
The president's sweeping and unexpected tariff rollout has hit some businesses harder than others, with those reliant on imports for their inputs particularly affected.
"Tariffs continue to drive additional spend," noted a respondent from a petroleum and coal products firm.
"Steel tariffs are killing us," noted another survey respondent from a manufacturing company.
The Institute for Supply Management's (ISM) manufacturing index ticked up to 49.1 percent last month, up slightly from 48.7 percent in August.
But despite the mild improvement, the figure remained below the 50 percent threshold dividing expansion from contraction.
"In September, US manufacturing activity contracted at a slightly slower rate, with production growth the biggest factor in the 0.4-percentage point gain of the Manufacturing PMI," ISM survey chair Susan Spence said in a statement.
But, she added, the decline in the indexes for new orders and inventories exceeded the increase in the production index, making the improvement "negligible."
The mood among survey respondents was gloomy, with one noting that their business continues to be "severely depressed," pinning the blame on US President Donald Trump's "extreme" tariffs.
The president's sweeping and unexpected tariff rollout has hit some businesses harder than others, with those reliant on imports for their inputs particularly affected.
"Tariffs continue to drive additional spend," noted a respondent from a petroleum and coal products firm.
"Steel tariffs are killing us," noted another survey respondent from a manufacturing company.
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