{"id":1720546,"date":"2022-11-01T17:33:49","date_gmt":"2022-11-01T21:33:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1720546"},"modified":"2022-11-01T17:34:12","modified_gmt":"2022-11-01T21:34:12","slug":"u-s-manufacturing-levels-lowest-since-may-2020","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-manufacturing-levels-lowest-since-may-2020\/","title":{"rendered":"U.S. Manufacturing Levels Lowest Since May 2020"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-manufacturing-levels-lowest-since-may-2020%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1720546&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"p1\">Manufacturing levels in the <a href=\"https:\/\/www.dailywire.com\/topic\/united-states\">United States<\/a> dropped for the fourth consecutive month, hitting the lowest measurement since May of 2020.<\/p>\n<p class=\"p1\">The Institute for Supply Management\u2019s October report was published on Tuesday, <a href=\"https:\/\/www.advisorperspectives.com\/dshort\/updates\/2022\/11\/01\/ism-manufacturing-index-inched-down-in-october?topic=covid-19-coronavirus-coverage\" target=\"_blank\" rel=\"noopener\">showing<\/a> that the most recent Purchasing Managers Index (PMI) was at 50.2, which is a 0.7 drop from the month prior. The number is also the lowest level it has been since May of 2020 and shows that the manufacturing industry is almost at a flat level, The Hill <a href=\"https:\/\/thehill.com\/policy\/3714278-us-manufacturing-plummets-to-lowest-level-since-2020\/\" target=\"_blank\" rel=\"noopener\">reported<\/a>.<\/p>\n<p class=\"p1\">The prices index of the survey went down 5.1% to 46.4%, which was also the lowest level since May of 2020. Economists <a href=\"https:\/\/www.marketwatch.com\/story\/u-s-manufacturing-barely-expands-in-october-ism-says-11667312004\" target=\"_blank\" rel=\"noopener\">reportedly<\/a> think the number will drop under the 50 level, which means the economy is decreasing in size.<\/p>\n<p class=\"p1\">Unconnected data showed that the S&#038;P global U.S. manufacturing PMI went up to 50.4 for its \u201cfinal\u201d October reading, up from a previous \u201cflash\u201d reading. The number, however, was still lower than the 52 reading from last month.<\/p>\n<p class=\"p1\">\u201cThe U.S. manufacturing sector continues to expand, but at the lowest rate since the coronavirus pandemic recovery began,\u201d Timothy Fiore, chairman of the Institute for Supply Management, said in a statement. \u201cWith panelists reporting softening new order rates over the previous five months, the October index reading reflects companies\u2019 preparing for potential future lower demand.\u201d<\/p>\n<p class=\"p1\">Fiore also said even though manufacturing activity is dropping and could be at a contraction level soon, this doesn\u2019t necessarily equal a U.S. recession, per Market Watch.<\/p>\n<p class=\"p1\">\u201cI don\u2019t see a collapse of new orders. I don\u2019t see a collapse of the PMI,\u201d Fiore said.<\/p>\n<p class=\"p1\">\u201cRecession jitters among manufacturers won\u2019t disappear any time soon \u2026 manufacturing will endure more pain as demand weakens at home and abroad while prices stay high and interest rates remain fairly elevated,\u201d Oren Klachkin, an economist at Oxford Economics, said.<\/p>\n<p class=\"p1\">Consumers continue to be concerned about <a href=\"https:\/\/www.dailywire.com\/topic\/inflation\" target=\"_blank\" rel=\"noopener\">inflation<\/a> and the state of the <a href=\"https:\/\/www.dailywire.com\/topic\/economy\" target=\"_blank\" rel=\"noopener\">economy<\/a>, which has shown up repeatedly in midterm polling. A recent ABC News\/Ipsos survey <a href=\"https:\/\/abcnews.go.com\/Politics\/economy-inflation-top-publics-agenda-midterm-elections-poll\/story?id=92348366\" target=\"_blank\" rel=\"noopener\">found<\/a> that 26% of Americans said the economy is the main factor in who they will vote for, and 23% said inflation was their main issue.<\/p>\n<p class=\"p1\">A respondent for the ISM survey said, \u201cGrowing threat of recession is making many customers slow orders substantially.\u201d<\/p>\n<p class=\"p1\">\u201cInternational conditions loom large and seem very foreboding. Overall, we still think 2023 will be a positive year, with at least some moderate growth,\u201d another respondent said.<\/p>\n<p class=\"p1\">The employment index was 1.3% more than last month, at 50%.<\/p>\n<p class=\"p1\">\u201cFor those companies expanding their workforce, comments continue to support an improving hiring environment,\u201d Fiore noted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manufacturing levels in the United States dropped for the fourth consecutive month, hitting the lowest measurement since May of 2020. The Institute for Supply Management\u2019s October report was published on Tuesday, showing that the most recent Purchasing Managers Index (PMI) was at 50.2, which is a 0.7 drop from the month prior. The number is &#8230;<\/p>\n","protected":false},"author":95,"featured_media":1720549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1720546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1720546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1720546"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1720546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1720549"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1720546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1720546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1720546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}