Analysts: Manufacturing cooled in June — SupplyChainDive.com

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Demand is slowing, causing manufacturers to cut production and lay off workers:

ISM’s Purchasing Managers’ Index registered a 12-month low of 46% in June, as anxieties grow that the U.S. is headed for a recession later this year. The reading was down from 46.9% in May. A reading below 50.0% indicates an industry in economic contraction.

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