A gauge of U.S. manufacturing showed the lowest reading in more than 10 years in September as exports dived amid the escalated trade war.
The U.S. manufacturing purchasing managers’ index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction.
The new export orders index was only 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed.
“We have now tariffed our way into a manufacturing recession in the U.S. and globally,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
A study jointly released by McMaster and Dalhousie universities, out in Science Daily yesterday, found that international scientists have “systematically reviewed the evidence” and “have recommended that most adults should continue to eat their current levels of red and processed meat.”
The researchers performed four systematic reviews focused on randomized controlled trials and observational studies looking at the impact of red meat and processed meat consumption on cardiometabolic and cancer outcomes.
In one review of 12 trials with 54,000 people, the researchers did not find statistically significant or an important association between meat consumption and the risk of heart disease, diabetes or cancer.
In three systematic reviews of cohort studies following millions of people, a very small reduction in risk among those who had three fewer servings of red or processed meat a week, but the association was uncertain.
The authors also did a fifth systematic review looking at people’s attitudes and health-related values around eating red and processed meats. They found people eat meat because they see it as healthy, they like the taste and they are reluctant to change their diet.
The five systematic reviews, a recommendation and an editorial on the topic were published in the Annals of Internal Medicine today.
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