IHS Markit’s gauge of US business output rose to 58.8 in a preliminary February reading. The data marks the strongest rate of growth since March 2015. Revived activity in the service industry drove the bulk of the improvement. Manufacturers grew, albeit at a slower pace. Visit the Business section of […]
While service-sector activity rebounded in a February reading, hiring didn't show a similar jump amid efforts to control outgoings, IHS Markit said.
US factory output rose more than expected in November, largely buoyed by strong auto manufacturing. Manufacturing output climbed 0.8% last month, according to Federal Reserve data. Economists surveyed by Bloomberg expected a 0.4% gain. Motor vehicle and part production leaped 5.3% in November, marking the first monthly gain since July. […]
A closely watched gauge of US manufacturing improved for the third month straight in July while still grappling with weak employment activity. The Institute for Supply Management’s purchasing managers’ index climbed to 54.2 last month from 52.6, marking the industry’s fastest rate of growth since March 2019. Its employment gauge […]
The Institute for Supply Management’s manufacturing index climbed back to growth territory in June as states reopened their economies. The key industry gauge leaped 9.5 points to 52.6 last month, notching its biggest single-month increase since 1980. Economists surveyed by Bloomberg expected a reading of 49.8. New orders and production […]
The US manufacturing industry ended a four-month decline and began to stabilise in May, the Institute for Supply Management’s latest survey showed Monday. The ISM’s purchasing managers’ index ticked higher to 43.1 last month from 41.5, remaining in contraction territory but climbing off an 11-year low. Six manufacturing sectors grew […]
US industrial production plummeted in April by the most since data collection began in 1919. Total production fell 11.2%, and manufacturing output declined a record 13.7% “as all major industries posted decreases,” the Federal Reserve said in a Friday release. Factory activity was one of the first economic areas to […]
US private-sector output sank in April at its fastest rate since the financial crisis as the coronavirus outbreak intensified and lockdown measures continued, IHS Markit said Thursday. The firm’s Composite Purchasing Managers’ Index slid to 27.4 from 40.9 in March. A reading below 50 signals economic contraction. Service sector output, […]
Robots will displace 20 million manufacturing jobs worldwide, according to a new report from Oxford Economics. The manufacturing industry is most vulnerable to automation, according to Oxford Economics. China will have 14 million industrial robots working in manufacturing by 2030. The Trump administration has been slow to recognise automation’s impact […]
The Australian manufacturing sector has continued its impressive run of recent growth. April figures for the Purchasing Manufacturers Index (PMI) released by the Ai Group climbed by 1.7 points to 59.2 points. The PMI measures changes in activity levels across Australia’s manufacturing sector from one month to the next. It […]
The manufacturing sector got some good news this morning, with positive data from the Australian Chamber-Westpac Survey of Industrial Trends. The index strengthened by another 2.5 points in March to 63.0, continuing gains after dropping to 55.0 in June last year. New orders drove gains in Q1, with increases in […]
Australia’s manufacturing industry is showing signs of recovery. That’s the view of Michael Workman, Senior Economist at the Commonwealth Bank, in a research note which follows positive data released in February by the Australian Industry Group, when Australia’s manufacturing industry grew at the fastest pace since May 2002. Although manufacturings’ […]
A local union leader involved with Carrier said...