Story perspectives

U.S. Manufacturing Shrinks as Tariff Uncertainty Hits Jobs

12/2/2025

Summary

Story summary

In November, U.S. manufacturing contracted for the ninth straight month, with the Institute for Supply Management (ISM) showing a PMI of 48.2.
Transportation-sector layoffs were linked to U.S. President Donald Trump's tariffs, including a new 25% duty on medium- and heavy-duty trucks.
Tariff uncertainty has created forecasting challenges, with many companies reporting difficulties predicting demand.
Manufacturing employment declined as 67% of surveyed companies managed headcounts rather than hiring.

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Story summary

In November, U.S. manufacturing contracted for the ninth straight month, with the Institute for Supply Management (ISM) showing a PMI of 48.2.
Transportation-sector layoffs were linked to U.S. President Donald Trump's tariffs, including a new 25% duty on medium- and heavy-duty trucks.
Tariff uncertainty has created forecasting challenges, with many companies reporting difficulties predicting demand.
Manufacturing employment declined as 67% of surveyed companies managed headcounts rather than hiring.