Manufacturing Sector Contracts for Eighth Consecutive Month, Signaling Challenging Times Ahead

Human ResourcesMoney Matters
Written By Jennifer Joslyn

According to the latest manufacturing report from ISM, the economic activity in the manufacturing sector continued to decline in June, marking the eighth consecutive month of contraction. Experts predict a more difficult second half of the year as pandemic-related advantages fade, lending conditions tighten, and increased borrowing costs lead to decreased consumer and business spending. The report reveals discouraging details, such as a contraction in production and new orders, indicating a weakening outlook for the near future.

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Jennifer Joslyn
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