Brexit uncertainty hits manufacturing sector

Brexit uncertainty hits manufacturing sector

However, that number did not include the effect of the General Motors strike.

The report came during a period of heightened policy uncertainty and talk of a potential slowdown.

The dim survey results and other weak data recently highlight why policy makers and investors remain anxious about the growing economic impact of heightened trade tensions and weaker growth around the world.

Employers added 128,000 net new jobs, the Labor Department reported in the closely-watched monthly employment report, defying many economists who expected a sharp slowdown.

October's total nonfarm payroll employment is down from September's upwardly revised number of 180,000.

"We have a good sense of comfort right now but not a lot of long-term security", she said.

Wage gains remained stubbornly sluggish but continued to outpace inflation.

Compared to October of last year, worker pay rose 3%, meaning year-on-year wage gains have been at or above 3% for 15 straight months.

FILE PHOTO: Striking union auto worker holds a sign on the picket line outside the General Motors Flint Truck Assembly in Flint, Michigan, U.S., October 9, 2019. The Department of Labor's (DOL) monthly strike report showed 46,000 GM workers were on strike during the October payroll survey.

Manufacturing's record of no jobs creation so far in 2019 aligns with other indicators pointing to contraction in the sector.

The strong report also comes after the US Federal Reserve slashed interest rates this week for the third time since the financial crisis.

Construction, service-providing, and retail sectors led to the increase. Though the ISM's forward-looking new orders sub-index increased last month, in remained in contraction territory.

He said that once short term boosts ahead of the deadline from panicked stock building were excluded, the longer term trend of low investment, falling orders and job cuts meant the outlook was "darker than even these disappointing headline numbers suggest".

With the unemployment rate low and the economy in a decadelong expansion, diners are as hungry as ever for tacos, said Michael Mabry, chief development officer of Fuzzy's Taco Shops, a Fort Worth, Texas chain of 150 restaurants in 17 states.

"October's survey data indicates a change of fortunes for the Canadian manufacturing sector, with output growth hitting an eight-month high in response to improving order books", said Tim Moore, economics associate director at IHS Markit. But the rise of e-commerce and increasing concentration of wealth in large US metros have corresponded with the loss of more than 70,000 jobs at retailers this year. President Donald Trump has spent a lot of time bashing Chicago, and now he's coming to visit. On Thursday, a divided House of Representatives voted to endorse the inquiry after a whistleblower complaint said Trump pressured Ukraine to investigate a 2020 campaign rival. "This is far greater than expectations". American workers see these benefits as today's labor market offers them opportunities to negotiate raises and advance their careers.

"The upshot is that the three-month average gain is now 175,000, which is easily enough to outpace population growth", said Michael Pearce, senior USA economist at Capital Economics.

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