Tariffs continue to be a central source of uncertainty, according to PMI.

In November, the manufacturing industry faced increased uncertainty due to tariff-related supply chain issues, resulting in a contraction with a Purchasing Managers' Index (PMI) of 48.2%. This decline was attributed to reduced new orders, employment, and supplier deliveries. The transportation equipment sector, in particular, has been adversely affected, leading to staff reductions and shifts in manufacturing strategies. While some optimism exists regarding future policy support, ongoing tariff uncertainties continue to hinder decision-making and overall growth in the sector.