The U.S. manufacturing industry is struggling.The Institute for Supply Management reported Tuesday that the industry's activity hit its lowest level in September since June 2009, when the country was finally emerging from the Great Recession, even though the U.S.
economy continues to grow overall.Manufacturing actually doesn't make up a very large portion of the U.S. economy nowadays — it accounts for just 8.5 percent of the employment sector and 11 percent of gross domestic product, The Wall Street Journal reports, which is why the decline hasn't altered the bigger picture very much. But, when digging beneath the surface, it's not inconsequential. Manufacturing's influence extends into other realms, the Journal notes; the industry's goods play a role in the shipping and retail industries, as well, and the final output of U.S.-made products actually accounts for a more robust 30 percent of the national GDP.
There are reportedly probably a few reasons for the manufacturing's contraction, including
tariffs resulting from the trade war with
China, Boeing's struggles following the fatal crashes of its 737 MAX airplane, and the recent General Motors strike, but regardless, it's a tough time for the industry, which could ultimately affect the 2020 presidential election. Read more at The Wall Street Journal and the Institute for Supply Management.