Economic activity in the U.S. manufacturing sector continued to contract in May amid uncertainties surrounding President Donald Trump's tariff policies, with the Manufacturing Purchasing Managers' Index (PMI) standing at 48.5 percent, according to data released Monday by the Institute for Supply Management (ISM).
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00:00Economic activity in the U.S. manufacturing sector continued to contract in May, amid uncertainties surrounding President Donald Trump's tariff policies, with the Manufacturing Purchasing Managers Index standing at 48.5 percent, according to data released Monday by the Institute for Supply Management.
00:20This marked the third straight month of contraction, with May's reading dipping slightly below April's 48.7 percent. A reading under 50 percent signals a general contraction in the manufacturing sector. According to the Institute for Supply Management, government spending cuts or delays, along with tariffs, have caused serious disruptions to U.S. businesses.
00:44In addition, the Conference Board measure of CEO confidence, a barometer of the health of the U.S. economy from the perspective of chief executives, fell sharply to 34 in the second quarter of 2025, the largest quarter-on-quarter decline in almost 50 years.
01:03Latest data from the Conference Board also showed that 83 percent of business leaders are expecting a recession in the next 12 to 18 months.
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