The Parts of the Economy That Make Stuff Are in a Bit of a Slump
June 06, 2024
The sectors of the economy that make stuff — manufacturing and construction — are having somewhat of a moment. Only just not a fantastic one. The Institute for Supply Management’s Purchasing Manager’s Index for manufacturing contracted in May. It’s been in the doldrums for the last year and a half, contracting in 18 of the last 19 months. The government reports construction spending fell for a second month in April, while factory orders were up less than 1% after being revised down for March.
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