Manufacturing to Contract Because of COVID-19

摘要

Manufacturing will contract for the rest of the year because of the novel coronavirus (COVID-19), the Institute for Supply Management said in a semi-annual economic forecast. Revenue for the year for manufacturing is expected to decline by an average of 10.3 percent, the Tempe, barometer of where the manufacturing economy is heading. In December, ISM had forecast that manufacturing revenue would expand by an average of 4.8 percent and that manufacturing would experience steady economic growth in 2020. But the coronavirus pandemic upended the economy.