U.S. manufacturers experience worst month since 2007-2009 Great Recession, ISM finds

Source: MarketWatch

U.S. manufacturers experience worst month since 2007-2009 Great Recession, ISM finds

Published: Oct 1, 2019 10:55 a.m. ET

ISM manufacturing index drops to 47.8%; Trump blasts Fed again

By JEFFRY BARTASH
REPORTER

The numbers: American manufacturers posted the biggest contraction in September since the end of the 2007-2009 recession, reflecting a slowdown in the U.S. and global economies made worse by a tense trade war with China.

The Institute for Supply Management said its manufacturing index fell to 47.8% last month from 49.1%, marking the lowest level since June 2009. That's when the Great Recession ended.



Economists surveyed by MarketWatch had forecast the index to total 50.2%.

The sharp decline in the index raised the specter of recession, wiping out early Wall Street gains and sending stocks lower. Readings over 50% signal business conditions are getting better, below 50% indicates they are getting worse.

President Trump quickly took to Twitter to blast the Federal Reserve again, blaming the central bank for keeping U.S. interest rates too high.

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Read more: https://www.marketwatch.com/story/slumping-us-manufacturers-experience-worse-month-since-end-of-great-recession-ism-finds-2019-10-01

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Hat tip, Joe.My.God:

WINNING: US Manufacturing Contracts To Decade Low
October 1, 2019 Business, Donald Trump

https://www.joemygod.com/2019/10/winning-us-manufacturing-contracts-to-decade-low/

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And:

Dow takes sharp turn lower after worst ISM manufacturing report since 2009

{bad link at MarketWatch}

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{edited:}

Laura PourMeADrink posted a thread in GD a few minutes before I posted this one:

"We have now tariffed our way into a manufacturing recession in the U.S. and globally,"

https://www.democraticunderground.com/100212530908