“The global economy is grappling with things like U.S.-China trade tension and the prolonged war in Ukraine, making for an uncertain outlook. At the same time, competition is intensifying both in domestic and overseas markets,” a machinery maker manager wrote in the comment section of the survey.
The service-sector index fared much better, with the non-manufacturers index slipping just one point to +23, though it was a second straight month of decline.
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