The numbers: A barometer of business conditions at American factories fell to the lowest level since 2020 when the U.S. was locked down during pandemic, underscoring broad weakness in the industrial side of the economy.
Numbers... The numbers: A barometer of business conditions at American factories fell to the lowest level since 2020 when the U.S. was locked down during pandemic, underscoring broad weakness in the industrial side of the economy. Numbers below 50% signal contraction in the industrial side of the economy. The index has been negative for eight months in a row, a bout of weakness last experienced during the 2007-2009 Great Recession.Key details:
“Customer orders have definitely slowed down,” said an executive at a chemical maker. “Our company thought the second half of 2023 would be better than the first half, but this doesn’t seem to be the case.”
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