Manufacturing production falls at slower pace

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 22 September 2023

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks fall; autoworkers expand strike; manufacturers are more optimistic; service sector contracts

Transcript

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0:16.8	This is the Marketplace Minute. I'm Justin Hal.
0:20.2	Stocks closed down on Friday. The Dow gave up 3.10%, the S&P fell almost a quarter percent,
0:26.4	and the NASDAQ lost a tenth of a percent.
0:29.2	The United Auto Workers Union is expanding its strike against General Motors and Stellantis.
0:34.4	The Union is pushing the two automakers to increase worker pay and provide more job security.
0:39.6	GM and Stellantis say they've made offers. The UAW reported progress in its negotiations with Ford.
0:46.5	Manufacturing production fell in August at a slower pace than in July,
0:50.5	according to S&P Global. It says demand is still soft, but manufacturers at surveyed are more
0:56.0	upbeat about the economy. The same report found that the services sector contracted in August.
1:01.6	That's also because of weaker demand. S&P Global says customers are backing off because of higher
1:06.6	prices and higher interest rates. I'm Justin Hal with the Marketplace Minute.

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