A surprising contraction in the US manufacturing sector
The manufacturing sector activity contracted unexpectedly in August due to the strengthening of the US dollar, slower growth of the global economy and uncertainty about the US economic outlook.
The manufacturing sector activity index in the US fell in August to 49.4 points – the lowest level since January, compared with a level of 52.6 points in July.
The economists had forecast only a slight decline in the index to 52 points.
Another data showed that the number of reported initial jobless claims stayed near a record low of more than four decades.