Key US Manufacturing Gauges Contract in August, Signal Broader Industry Slowdown
Experts, however, still anticipate ‘industrial renaissance’ amid public and private investment.
A worker handles 155 mm calibre shells after the manufacturing process at the Scranton Army Ammunition Plant in Scranton, Pa., on April 16, 2024. Charly Triballeau/AFP via Getty Images
Two key U.S. manufacturing gauges contracted in August, signaling a possible broader industry slowdown.
The Federal Reserve Bank of New York’s Empire State Manufacturing Survey—a monthly survey of 200 companies—contracted for the ninth consecutive month in August as business activity in the state weakened.
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
