US Manufacturing Growth in 7-Year Low

Tuesday, November 1st, 2016 : 0 Comments


“The survey indicates that factory output is dropping at an annualized rate of approximately 3 percent, and factory headcounts are being culled at a rate of around 10,000 per month,” Chris Williamson, Markit’s chief economist, said in a statement Monday. “Rather than reviving after a disappointingly weak first quarter, the data flow therefore appears to be worsening in the second quarter, raising question marks over whether [gross domestic product] growth will improve on the near-stalling seen in the first three months of the year.”

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