Global Manufacturing Faces Slump as Key Economies Struggle

US, Japan, and China report declining manufacturing activity amid weak domestic demand and high interest rates.

US manufacturing contracts for the third consecutive month, with weak demand and high interest rates cited as key factors.
Japan's service sector sees first contraction in nearly two years, though business confidence remains relatively strong.
China's manufacturing shows mixed signals with state-owned firms contracting while private sector reports growth.
Inflation pressures are easing in the US, but high interest rates continue to impact manufacturing investment.
Global economic uncertainties and geopolitical tensions are affecting consumer confidence and spending patterns.