US manufacturing activity eases off 11-year low
Recovery from the Covid-19 crisis could take years because of high unemployment
01 June 2020 - 21:55
Washington — US manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the Covid-19 crisis could take years because of high unemployment.
The promising signs of stabilisation in manufacturing reported by the Institute for Supply Management on Monday are a welcome respite as the country braces for data on Friday expected to show the worst unemployment rate since World War 2. Rampant joblessness will lead to tepid demand and economic growth...
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