7 July
US manufacturing shows decline amid trade restrictions
The US manufacturing sector showed a decline in April, interrupting a six-month positive trend, Bloomberg reports. According to the Federal Reserve System, production decreased by 0.4% due to an increase in import duties.
The most pronounced decline was in the automotive, computer, and textile industries. The decline in the output of durable goods was particularly notable, with a second consecutive month of decrease. The capacity utilization rate fell to 76.8%, indicating significant idle capacity at factories.
According to the Institute for Supply Management, the Trump administration's trade policy has had a negative impact on the situation in the manufacturing sector. With rising material prices and uncertainty in trade relations, companies are forced to revise their investment plans, Bloomberg notes.
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