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GE Slashes Annual Forecast Following Decline in Adjusted Profit

General Electric decided to cut its annual earnings forecast after reporting on Tuesday a 19% drop in adjusted quarterly profit. The company cites supply bottlenecks, inflation, and a decline in its renewable energy business as the main reasons for this decline. The U.S. manufacturing giant...

Manufacturing Growth Sustained as Inflation Pressure Eased

US manufacturing continued growing in August, albeit at its slowest pace in over two years. The Institute for Supply Management’s gauge of factory remained at 52.8; its lowest level since June 2020. Material costs continued to decline for a fifth consecutive month, bringing much-needed...