U.S. manufacturing shrank in June for the first time in nearly three years, adding to signs that economic growth is weakening.
Production declined, and the number of new orders plunged, according
to a monthly report released Monday by the Institute for Supply
Management.
The slowdown comes as U.S. employers have scaled back hiring,
consumers have turned more cautious, Europe faces a recession and
manufacturing has slowed in big countries like China.
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