Summary: US manufacturing activity contracted in March for the first time in 2025, with the ISM manufacturing index declining to 49. Higher tariffs have led to increased prices, decreased demand, and reduced hiring. The scramble to secure goods and materials before tariff hikes also contributed to the contraction.

Link: https://www.straitstimes.com/business/economy/us-manufacturing-activity-shrinks-for-first-time-in-2025-as-tariffs-weigh-on-demand-hiring