New orders for manufactured durable goods increased for a fourth consecutive month in August, but growth was smaller compared to July, according to data released Friday by the U.S. Census Bureau. New durable goods orders were up 0.4% to $232.8 billion last month, falling short of expectations and following July's 11.7% jump. Shipments of durable goods ... READ MORE >
CHART OF THE DAY: Manufacturers signaled acceleration in September
Manufacturers in September reported the fastest improvement in operating conditions since January 2019, according to the U.S. manufacturing purchasing managers’ index released by IHS Markit on Wednesday. The index posted a reading of 53.5 in September, up from 53.1 in August. This month’s reading was ahead of economists’ forecasts, which called for the ... READ MORE >
CHART OF THE DAY: U.S. industrial production expansion was smaller than expected in August
After three months of sharp increases, U.S. industrial production growth was smaller than expected in August, according to a Federal Reserve report released Tuesday. Industrial production expanded by 0.4% on a monthly basis following July's increase of 3.5% (revised from 3%), and is a sign that the economic recovery is starting to moderate. Analysts had ... READ MORE >
U.S. manufacturing expanded in August at highest level since Q4 2018
U.S. manufacturing activity continued its expansion in August, according to Institute for Supply Management data released Tuesday, with 15 of the 18 manufacturing industries included in the data reporting growth. Last month marked the highest level of expansion in the ISM’s manufacturing index since Q4 2018. The ISM’s manufacturing index rose from its ... READ MORE >
CHART OF THE DAY: U.S. durable goods orders accelerate on the back of strong auto demand
U.S. orders for durable goods rose 11.2% in July compared to June, led by strong automobile demand, according to Census Bureau data. This uptick further bolsters the belief that manufacturing activity will help lead the U.S. economic recovery. Orders for motor vehicles and parts jumped 21.9% in July, following an 85.6% increase in June. Core capital goods ... READ MORE >
CHART OF THE DAY: U.S. IHS Markit August manufacturing PMI reaches highest point since early 2019
According to data released by IHS Markit, manufacturers noted improvement in operating conditions midway through the third quarter, as highlighted by the IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index. The index posted a reading of 53.6 in August, up from 50.9 in July. The overall rate of improvement was the fastest since January 2019 and is ... READ MORE >
CHART OF THE DAY: Auto inventory slump may be sign of upcoming sales strength
Auto sales have accelerated over the past three months, with July U.S. new vehicle sales hitting their highest point since mid-January, according to data compiled by Ward’s Automotive Group. This has resulted in historically low inventory levels at dealer lots across the United States, with 371,000 unsold vehicles as of June 30. This resurgence in ... READ MORE >
ISM manufacturing gauge hits highest level since March 2019, but recovery is still a long way off
The Institute for Supply Management index, a closely watched measure of U.S. manufacturing activity, rose 1.6 points to 54.2 in July from 52.6 in the previous month, surpassing market expectations of 53.6. This marks the third consecutive month of expansion and a significant bounce from the 11-year low of 41.5 that we saw in April. Readings above 50 ... READ MORE >
As cars become increasingly connected, the prevalence of autonomous vehicles will grow
In recent years, auto companies have developed more technologies that enable autonomy for their vehicles. As the number of sensors and technologies in cars has increased, so too has the amount of data available for machine learning algorithms to harness for potential innovation. These data points are sourced from a car’s steering, braking and navigation ... READ MORE >
ISM manufacturing gauge returns to expansion with orders and production improving
The Institute for Supply Management’s monthly index, a closely watched measure of U.S. manufacturing activity, rose 9.5 percentage points in June to 52.6 from the May reading of 43.1, its largest jump in 40 years. Readings above 50 indicate expansion in manufacturing activity. More factories reported growth in orders and production, and the upward move in ... READ MORE >