U.S. factories face toughest times since the start of the pandemic in 2020
The numbers: A key barometer of American factories fell to a 30-month low of 49% in November — contracting for the first time since the start of the pandemic — in another sign the U.S. economy is getting weaker.The ISM report is viewed as a window into... The numbers: A key barometer of American factories fell to a 30-month low of 49% in November — contracting for the first time since the start of the pandemic — in another sign the U.S. economy is getting weaker.
“Looking into December and the first quarter of 2023, business is softening as uncertain economic conditions lie ahead,” an executive at a maker of plastics and rubber products told ISM. Consumers have also shifted spending from manufactured goods to services such as travel and recreation. That’s also reducing demand.
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