Economics
U.S. Factory Gauge Unexpectedly Falls to Lowest Since 2009
- ISM index signals contraction for a fifth consecutive month
- Economists projected gauge to rise to 49 in December
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U.S. manufacturing closed out a tumultuous year with the weakest monthly performance since the end of the recession, with orders shrinking and factories continuing to dial back production.
Stocks and Treasury yields, already lower after a U.S. airstrike killed one of Iran’s most powerful military leaders, extended declines after the report.