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The US factory gauge falls to the lowest level of Trump's presidency, Bloomberg
A measure of US manufacturing activity unexpectedly dropped in May to the lowest level since October 2016, a sign that the trade war that President Donald Trump has waged against China is weighing on the economy as it contemplates new prices. The Institute for Supply Management's Purchasing Managers Index fell from 52.8 to 52.1, exceeding the median forecast of 53 in the Bloomberg survey, but above the 50 mark. indicating an expansion. Three of the five components fell, including production, inventories and deliveries from suppliers, according to a report released Monday. Eleven of the 18 manufacturing industries reported …
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