US manufacturing survey shows worst reading in a decade
Here is the ISM report:
Institute for Supply Management | Established in 1915
Some direct quotes:
“
Continued softening in the global automotive market. Trade-war impacts also have localized effects, particularly in select export markets. Seeing warehouses filling again after what appeared to be a short reduction of demand.” (Chemical Products)
“
Chinese tariffs going up are hurting our business. Most of the materials are not made in the U.S. and made only in China.” (Food, Beverage & Tobacco Products)
“We have seen a reduction in sales orders and, therefore, a lower demand for products we order.
We have also reduced our workforce by 10 percent.” (Plastics & Rubber Products)
“Economy seems to be softening.
The tariffs have caused much confusion in the industry.” (Electrical Equipment, Appliances & Components)