U.S. manufacturing PMI slumps to 9-year low
The numbers: Faced with less demand from customers and a flareup in U.S.-China trade tensions, American businesses grew in May at the slowest pace since before President Trump was elected, a pair of new surveys show.
Any number over 50 signifies that companies are growing, but the sharp decline in the indexes this year suggests the U.S. economy could slow in the months ahead, especially if the dispute with China drags on. Big picture: The ongoing trade war with China and resulting tit-for-tat tariffs has taken a toll on American companies. They’ve lost some sales, had to find new suppliers and are generally hesitant about what to do next because of trade tensions.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Faced with relentless American pressure, Iran starts to hit backTehran is seeking to exact a cost for U.S. sanctions that have battered its economy, but it wants to avoid all-out war.
Read more »
Toomey: 'Absolutely painful' China tariffs may be 'worth the price'Sen. Pat Toomey defended Trump amid the administration’s trade war with China, arguing that an eventual agreement with Beijing may be “worth the price” of the “absolutely painful” tariffs hammering American farmers.
Read more »
U.S.-China tech war may split progress in twoNationalism has sparked Washington and Beijing to begin separating their tech sectors, on supposed security grounds. Economics promises to prolong the struggle. Clustering, scale and technical prowess mean both sides can succeed in areas like 5G even if the outcome isn’t optimal.
Read more »
5 things to know for May 21: Trump, Yemen, US storms, Ford, China & drones5 things for Tuesday: - President Trump - Yemen - Weather - Ford - Drones and China
Read more »
Saudi minister denies activist Baghdadi faced any Saudi threatA senior Saudi official denied the authorities posed any threat to prominent Pal...
Read more »
Faced with their own demise, Europe’s social democrats are moving leftTheir plight mirrors strains — and possible solutions — across the West.
Read more »
Grumpy Cat, the grouchy-faced furball that launched a thousand memes, is deadCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Read more »
Are 'Game of Thrones' and 'Avengers' latest victims of the US-China trade war?Westeros may have survived an invasion of White Walkers, but 'Game of Thrones' may have fallen victim to the current trade war between the U.S. and China.
Read more »
The stock market fears more trade retaliation from China is coming next weekTraders are concerned there is another shoe to drop: more retaliatory measures from China, which may or may not come in the form of tariffs.
Read more »
HUD Secretary Ben Carson stumped during congressional hearingThe HUD secretary faced a tough hearing before the House Financial Services Committee on Tuesday.
Read more »