If 3M is reporting negative cash flow like this… What does that tell you?

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Tariffs weigh on US manufacturing as activity contracts for 7th straight month

WASHINGTON – US factory activity shrank in September for a seventh consecutive month as factories grappled with the fallout from President Donald Trump’s sweeping tariffs.

The Institute for Supply Management (ISM) survey and other private-label data will assume greater importance among investors seeking to assess the health of the economy after the US government shut down at midnight on Sept 30, delaying the publication of key economic data, including the closely watched employment report for September that was due on Oct 3.

Import duties dominated responses in the ISM survey on Oct 1, with some manufacturers of miscellaneous goods complaining “steel tariffs are killing us”.

https://www.straitstimes.com/business/economy/tariffs-weigh-on-us-manufacturing-in-september-as-activity-contracts-for-7th-straight-month

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