The Manufacturing Expansion Is Global

It is clear that most major economies expanded their manufacturing in August, as per manufacturing results from around the world shown below. Italy and the UK were unfortunate exceptions. While not included in the WSJ chart below, note Japanese manufacturing expanded in August as well.

WSJ: In the midst of all the good news, hiring was still a weak spot in the U.S. manufacturing report. The index shows that employment was still contracting and some companies noted in their comments that layoffs were still ahead.

While hiring is likely to be lagged, hopefully it will follow-on should this expansion prove robust.

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