For the fifth month on a row, U.S. industrial production contracted in December reflecting a number of challenges including trade tensions, dollar strength and a general slowdown in global production.
The Institute for Supply Management monthly gauge of factory activity fell to 47.2 for the final month of 2019, the lowest reading since June 2009. The ISM measure is a "diffusion index," calibrated such that a level of 50 is neutral. Readings above 50 indicate expansion, while values below 50 reflect declines in output. By this and other measures, U.S. manufacturing has been in recession for some months now.
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