US manufacturing economy contracts to worst level in a decade
Assembly product worker Ron Leenheer works on the final assembly of a water cooled transformer at RoMan Manufacturing in Grand Rapids, Michigan, December 12, 2018.A gauge of U.S. manufacturing from the Institute for Supply Management showed the sector contracted to the lowest level in more than 10 years in September.
"Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019. Overall, sentiment this month remains cautious regarding near-term growth," Timothy Fiore, ISM chair, said in a statement.
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