"Reports noting the current contraction of the manufacturing economy and excess production capacity for durable goods underscore the need for U.S. manufacturers to adapt to permanent systemic changes taking place," said Ralph Nappi, president of the machine tool distributors' group in Rockville, Md. "No doubt business will improve, but not to prior levels".
The country's performance of manufacturing index fell to a four-year low in April, indicating continuing contraction in the sector despite record low interest rates of 2.75 percent.
The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its index of manufacturing activity ticked up to 49.8, from 49.7 in June, but a reading below 50 indicates contraction.
The Institute for Supply Management said its index of manufacturing business conditions was at 49.2 in November, below forecasts of 51.3 and under the 50 level that separates expansion from contraction.
Shrinkage of manufacturing costs.
Youth employment can be concentrated in the service sector in countries that experience a rapid contraction of the manufacturing sector, given that the decrease of the employment share in the manufacturing sector is more significant among youths than adults.
While Puerto Rico faces more serious economic problems than the 50 U.S. states, some of the trends would seem similar to many Americans: contraction of the manufacturing industry, weaker job security, difficulty reversing unemployment, fewer public services and middle class decline.
