Contraction Continues in Great Manufacturing Report - get the details for a better understanding

Tim Fiore, Committee Chair of the Institute For Supply Management's Manufacturing Report on Business lays the groundwork for the balance of 2023 through hiring freezes, attrition, followed by layoffs if necessary, with pressure on supplies to lower prices or offer buying incentives. New orders may be recovering with too much inventory being burned off, and interest rate increases slowing. Export market for all countries likely to be a dud for the balance of 2023.