Markets

US industrial production tanks the most in 101 years amid factory lockdowns

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 industrial production tanks the most in 101 years amid factory lockdowns
Markets

‘Ferocity not previously seen in recent history’: US economic output plunged the most since 2009 in April as the coronavirus lockdown spread

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, […]
‘Ferocity not previously seen in recent history’: US economic output plunged the most since 2009 in April as the coronavirus lockdown spread
Strategy

Robots are rapidly on their way to taking 20 million manufacturing jobs, wiping out a chunk of the global workforce

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 […]
Robots are rapidly on their way to taking 20 million manufacturing jobs, wiping out a chunk of the global workforce
Markets

Australian manufacturing stormed ahead again in April

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 […]
Australian manufacturing stormed ahead again in April
Markets

Australian manufacturers are on a roll

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 […]
Australian manufacturers are on a roll
Markets

More evidence of a modest manufacturing recovery in Australia

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’ […]
More evidence of a modest manufacturing recovery in Australia