US Manufacturing Activity Shrinks for First Time This Year
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US factory activity contracted in March for the first time this year and prices accelerated sharply for a second month as the drumbeat of higher tariffs reverberated through the economy.
The Institute for Supply Management’s manufacturing index declined 1.3 points last month to 49, according to data released Tuesday. Readings below 50 indicate contraction and the figure was slightly weaker than the median projection in a Bloomberg survey of economists.