受生产放缓与需求乏力拖累 美国制造业连续八个月萎缩

Group 1 - U.S. manufacturing activity continued to contract in October, marking the eighth consecutive month of decline, driven by slowing production and weak demand [1][2] - The ISM manufacturing PMI index fell by 0.4 points to 48.7, remaining below the neutral line of 50, with most of the year spent in a narrow range [1] - The manufacturing output index dropped by 2.8 points to 48.2, entering contraction territory for the second time in three months [1] Group 2 - The ISM employment index has contracted for nine consecutive months, showing slight improvement from September but still within the contraction zone [1] - Twelve manufacturing sectors contracted in October, with textiles, apparel, and furniture performing the worst, while only six sectors, including basic metals and transportation equipment, recorded growth [2] - New orders shrank for the second consecutive month, although the rate of contraction slowed compared to September, and backlogged orders continued to decrease [2] Group 3 - Manufacturers faced multiple pressures from trade policy uncertainty, supply chain adjustments, and weak customer demand [2] - Inventory levels for manufacturers saw the largest decline in a year, while customer inventories remained low, theoretically providing space for future order rebounds, though short-term demand remains weak [2] - Analysts expect limited recovery momentum in manufacturing due to fluctuating tariff policies, global manufacturing slowdown, and cautious U.S. corporate capital spending, with a continued low outlook for the fourth quarter [2]