The US manufacturing industry contracted for five consecutive months, with the wooden products industry the most serious

The US manufacturing industry contracted for five consecutive months, with the wooden products industry the most serious

The purchasing managers’ index (PMI) of the US manufacturing industry fell to 47.2 in December 2019, which was lower than the boom and bust line for five consecutive months, reflecting the severe test facing the US manufacturing industry, according to a report released by the ism on December 3.

50 is the boom and bust line of PMI, lower than 50 means that economic activity is in a state of contraction. According to the report, US manufacturing orders continued to decline and factories continued to cut production in December last year. The U.S. manufacturing PMI in December was the lowest since June 2009.

According to the report, the U.S. manufacturing PMI average in 2019 is 51.2, the lowest level in 10 years, 7.6 lower than the average in 2018, the biggest drop since 2001.

In December, 15 of the 18 manufacturing sectors in the U.S. shrank, with the clothing and wood industries the most severe, the report said.

The report also showed that the U.S. factory employment index fell to its lowest level since January 2016, which means that despite the general strength of the U.S. employment market in other areas, the employment situation in the manufacturing industry is further weak.

According to Bloomberg, the manufacturing industry in the United States has experienced a turbulent year, which is mainly affected by the investment correction of domestic enterprises in the United States, the weakening of global demand and the trade relations between the United States and China.

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