U.S. Factory Gains Cooled to Still-Solid Pace in September
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A measure of U.S. manufacturing cooled in September from a 14-year high as supply bottlenecks and price pressures eased, Institute for Supply Management data showed Monday.
The ISM report indicates manufacturing is coming off the boil while still expanding at a solid pace amid steady demand and lower taxes, indicating the industry is poised to contribute to economic growth in the second half. Tariff wars with China remain a cloud over the outlook -- with the ISM again citing respondents as “overwhelmingly concerned” about the levies -- though an updated trade accord with Canada and Mexico may provide some relief.