ISM Manufacturing Index
The latest ISM data point confirms a slowdown in the manufacturing sector. While GDP grew by 2.1% in the third quarter, manufacturing entered a period of modest contraction. While the sector is not yet in recessionary territory, it has been impacted by trade discussions with China and the on-again/off-again nature of the very public negotiations.
Quarterly Real U.S. GDP Growth
U.S. GDP grew at 2.1% in the third quarter, assisted by consumer and government spending. Home construction also contributed for the first time in seven quarters. Business investment, however, was weak amid concerns of a slow global economy and the effects of the US/China trade dispute.
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