American factory activity declined for the fourth straight month in November as sluggish global growth and continued uncertainty over trade issues took their toll, according a key gauge released Monday by the Institute for Supply Management. The ISM’s purchasing managers’ index dropped to 48.1 in November, from 48.3 a month earlier, and below the ... READ MORE >
US manufacturing activity hits 10-year low point
Contraction in U.S. manufacturing is continuing, with activity reaching a ten-year low in September, as economic and political uncertainty weigh on the industrial sector. According to the latest Institute for Supply Management report, manufacturing reached its lowest point since June 2009 after a second straight month of slowing. The index registered ... READ MORE >
Latest ISM purchasing managers index signals potential recessionary territory for manufacturing sector
The Institute for Supply Management purchasing managers index—a key gauge of U.S. factory activity—dropped to 49.1 in August, from 51.2 a month earlier, hinting at the potential onset of an industrial recession. The index was pulled lower by slowing global growth due to continued economic uncertainty over trade issues. A number below 50 indicates the ... READ MORE >
Administration delays tariffs on some Chinese goods ahead of holidays
The Office of the U.S. Trade Representative on Tuesday issued a notice stating that an additional planned 10% tariff set to take effect on Sept. 1 on many imports from China will be delayed on some of those products until Dec. 15. The move was expected to provide relief to U.S. retailers and consumers ahead of the critical holiday selling season. The ... READ MORE >
US manufacturing–slipping away
The U.S. manufacturing sector slipped closer to contractionary terrain in July, which in our estimation reaffirms the decision by the Federal Reserve to cut interest rates by 25 basis points at its July meeting on Wednesday. The top line sentiment index in the Institute for Supply Management’s manufacturing survey declined to 51.2 from 51.7 a month earlier, ... READ MORE >
Boeing’s potential halt to 737 Max production would have wide economic impact
Boeing on Wednesday reported its largest-ever quarterly loss of $3.4 billion due to the continued troubles with its 737 Max plane.The company continues to work with regulators, but if not able to get approval in the near term, Boeing said it would consider reducing or shutting down production of the 737 Max entirely. The company is still producing 42 of ... READ MORE >
Central banks brace for economic slowdown as manufacturing reflects contraction
A slowing global economy and declining bond yields across the developed world—some negative—portend a deteriorating business climate ahead. To combat this broad slowdown, global central banks are shifting monetary policy toward more accommodative stances that include real negative rates, nominal negative rates, large-scale asset purchases and possibly ... READ MORE >
Demand for manufacturing workers remains robust, despite May’s decline in U.S. job openings
Manufacturing positions in the United States are among the hardest to fill as the labor market remains tight, a key government report released on Tuesday shows. The Job Openings and Labor Turnover Survey from the Department of Labor shows that manufacturing sector vacancies rose to a record 509,000 in May, from 496,000 in April. The numbers suggest that ... READ MORE >
Factory orders stall in latest Institute for Supply Management Index
The Institute for Supply Management index—a key gauge of U.S. factory activity—dropped to 51.7 in June, from 52.1 a month earlier, pulled lower primarily by economic uncertainty over trade issues. The index posted its third straight monthly decline and the weakest level since October 2016. The ISM’s measure of new orders fell to 50, the lowest since ... READ MORE >
SCOTUS rejects challenge to administration’s steel tariffs
The U.S. Supreme Court on Monday refused to hear a case seeking to deny the administration's power to impose more than $4 billion in steel tariffs, turning away an appeal that challenged its use of national security as the legal justification for the United States' trade agenda. The appeal, led by a steel industry trade group, was spurred by the ... READ MORE >