U.S. Factory Index Falls to Fresh Nine-Year Low
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A gauge of U.S. factories fell in June to the lowest since late 2009 and hovered just above the threshold between expansion and contraction, the latest signal that the American industrial sector is losing momentum amid rising uncertainty.
The IHS Markit manufacturing Purchasing Managers’ Index slipped to 50.1 from 50.5, according to a preliminary report Friday that trailed most estimates in Bloomberg’s survey of economists. A separate gauge for service providers edged down to a three-year low of 50.7, also falling short of projections.