00:00Welcome back. Economic activity in the U.S. manufacturing sector continues to contract in May amid uncertainties surrounding President Donald Trump's tariff policies.
00:11This is evident from the Manufacturing Purchasing Managers Index, PMI, standing at 48.5%, according to data released by the Institute for Supply Management.
00:21This marked the third straight month of contraction, with May's reading dipping slightly below April's 48.7%.
00:29A reading under 50% signals a general contraction in the manufacturing sector.
00:34According to the ISM, government spending cuts or delays, along with tariffs, have caused serious disruptions to U.S. businesses.
00:42The Conference Board Measure of CEO Confidence, a barometer of the health of the U.S. economy from the perspective of chief executives,
00:50fell sharply to 34 in the second quarter of 2025, the largest quarter-on-quarter decline in almost 50 years.
00:59Latest data from the Conference Board also showed that 83% of business leaders are expecting a recession in the next 12 to 18 months.
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