US Manufacturing Activity Contracted in May for a Third Month
A worker arc welds a metal door in Sacramento, California.
Photographer: David Paul Morris/BloombergUS factory activity contracted in May for a third consecutive month and a gauge of imports fell to a 16-year low as firms pulled back in the face of higher tariffs.
The Institute for Supply Management’s manufacturing index edged down 0.2 point last month to 48.5, according to data released Monday. Readings below 50 indicate contraction.