The manufacturing sector continues to experience weak demand, as new orders have stalled before the presidential election, reflected in the Institute for Supply Management’s Purchasing Managers’ Index remaining flat at 47.2%. This contraction is driven by ongoing layoffs, with the employment index falling to 43.9%. Although there is cautious optimism due to a recent interest rate cut, manufacturers are hesitant to increase orders or capital spending until after the election. Additional challenges from Hurricane Helene and East Coast port strikes further complicate the situation.
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