U.S. manufacturing shrinks for the first time since July 2009

According to a report released by the US Institute for Supply Management on the 2nd, the US manufacturing purchasing managers' index fell below 50 in June, indicating that US manufacturing activity has shrunk for the first time in nearly three years.

The report shows that the U.S. manufacturing purchasing managers index for the month was 49.7, down from 53.5 in May. This is the first time that US manufacturing has shrunk since July 2009. As of May of this year, U.S. manufacturing has achieved a continuous 34-month expansion.

The US Manufacturing Purchasing Managers' Index is a barometer for measuring the overall development of the U.S. manufacturing industry. The index is at the critical point of 50. Above 50 indicates that the manufacturing industry is in an expanding state, and below 50 indicates that the manufacturing industry is in a contraction state.

From an industry perspective, in the 18 manufacturing industries, there were only 7 industries that expanded in the same month, including machinery and equipment, primary metals, etc. The nine manufacturing industries including clothing, computers and electronic products, and transportation equipment contracted.

In addition, the U.S. manufacturing industry's index in terms of orders, output, and employment declined in different degrees in June, with the new orders index dropping the most, from 60.1 the previous month to 47.8.