U.S. manufacturing contracts for first time in three years

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The Institute for Supply Management, an association of purchasing managers, said U.S. manufacturing activity declined for the first time in three years, amid trade tensions with China.

The Institute for Supply Management's U.S. purchasing managers' index fell to 49.1 last month from 51.2 in July, reports Reuters. Figures below 50 indicate that the manufacturing sector is contracting.

The reports come amid last week's reports that U.S. consumer spending increased in July.

Nine industries including furniture, machinery and chemical products experienced growth last month, Reuters reports, citing the Institute for Supply Management. Seven other industries including electrical equipment, appliances and components all reported a contraction.

U.S. President Donald Trump's increased tariffs on goods from China may have contributed to shrinkage in the manufacturing sector, according to Bloomberg.

The manufacturing makes up around 12 percent of the American economy, Reuters reports.

The U.S. now joins Japan, China and the United Kingdom as countries that are experiencing a decline in manufacturing activity.

RUNDOWN SHOWS:
1. U.S. flag, a decrease in the manufacturing sector and the Chinese flag
2. A consumer shopping in a supermarket
3. A map of the U.S. and industries that experienced growth and those that experienced a decline
4. Other countries experiencing a decline in manufacturing activity

VOICEOVER (in English):
"The Institute for Supply Management, an association of purchasing managers, said U.S. manufacturing activity declined for the first time in three years, amid trade tensions with China."

"Reuters reports that the Institute for Supply Management's U.S. purchasing managers' index fell to 49.1 last month from 51.2 in July."

"Figures below 50 indicate that the manufacturing sector is contracting."

"The reports come amid last week's reports that U.S. consumer spending increased in July."

"Citing the Institute for Supply Management, Reuters reports that nine industries including furniture, machinery and chemical products experienced growth last month."

"While seven other industries including electrical equipment, appliances and components all reported a contraction."

"The U.S. now joins Japan, China and the United Kingdom as countries that are experiencing a decline in manufacturing activity."

SOURCES: Reuters, Bloomberg, CNBC, Institute for Supply Management
https://www.reuters.com/article/us-usa-economy/us-manufacturing-shrinks-for-first-time-in-three-years-idUSKCN1VO1RH?utm_source=reddit.com
https://www.reuters.com/article/us-usa-economy-consumers/strong-consumer-spending-seen-underpinning-u-s-economy-idUSKCN1VK1JW
https://www.bloomberg.com/news/articles/2019-09-03/u-s-manufacturing-contracts-for-first-time-in-three-years
https://www.cnbc.com/2019/09/03/the-manufacturing-sector-is-contracting-according-to-ism-survey.html
https://www.instituteforsupplymanagement.org/index.cfm?SSO=1