IHS Markit Report Shows Softened Economy

Reuters reported that the IHS Markit U.S. manufacturing purchasing managers index (PMI) had a reading of 50.1, its lowest since September 2009. While any reading above 50 still indicates positive growth, the drop could indicate a slowdown or reversal on the horizon.

Reuters added the darkened manufacturing report may be due to increasing concern about trade policy and tensions caused by the U.S.-China trade war.

According to Reuters, two-thirds of index respondents indicated some or all of their recent raw materials cost increases were due to tariffs.

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