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Economiccontraction

All articles tagged with #economiccontraction

business-and-economy2 years ago•27 min saved

"U.S. Manufacturing Slump Persists in December Despite Hopes of Revival"

The December 2023 Manufacturing ISM® Report On Business® indicates that the U.S. manufacturing sector contracted for the 14th consecutive month, with the Manufacturing PMI® at 47.4%, slightly up from November's 46.7%. Key findings show new orders and backlogs contracting, while production slightly expanded. Employment contracted, supplier deliveries were faster, and raw materials inventories shrank. Customers' inventories were reported as too low, and both prices and exports and imports were decreasing. The only industry reporting growth was Primary Metals, with 16 others contracting. The overall economy continued to contract for the third month, suggesting a cautious outlook for manufacturing heading into 2024.

via PR Newswire|

##business-and-economy #economiccontraction

economy2 years ago•1 min saved

"European Markets Show Mixed Signals Amid Recession Concerns and PMI Data"

The euro zone's manufacturing sector continued to contract in December, marking the 18th consecutive month of decline, as indicated by the HCOB's final euro zone manufacturing Purchasing Managers' Index (PMI). With a PMI score of 44.4, the index remained below the growth threshold, suggesting the euro zone likely entered a recession last year after a 0.1% GDP contraction in the third quarter. Despite a slight improvement in new orders, the overall trend points to a persistent economic downturn, with job cuts in the sector for the seventh month in a row.

via Reuters.com|

##economiccontraction #economy

economy2 years ago•0 min saved

"China's Factory Activity Shrinks Beyond Forecasts in December"

China's manufacturing activity shrank for the third month in a row in December, with the official purchasing managers' index (PMI) dropping to 49.0 from 49.4 in November, indicating a contraction in factory activity more severe than analysts had anticipated. This downturn is attributed to weak demand and adds to the challenges facing China's economic recovery, which is already under pressure from a property downturn, local government debt concerns, and sluggish global growth. The government has implemented several measures to bolster the economy, but the persistent contraction highlights the ongoing difficulties.

via Reuters|

##china #covid19

economy2 years ago•1 min saved

"China's Factory Activity Contracts for Third Consecutive Month Amid Testing Rigor"

China's official manufacturing Purchasing Managers' Index (PMI) dropped to 49 in December, indicating a contraction in factory activity for the third month in a row. Despite this, non-manufacturing PMI saw a slight increase, and overall business confidence showed signs of improvement. The contraction in manufacturing was attributed to the off-season for some raw materials industries, while non-manufacturing activities expanded, leading to a composite PMI of 50.3, slightly down from November's 50.4.

via China Daily|

##china #economiccontraction