With the recent passage of “phase one” of a trade agreement between the United States and China and the ratification of the United States-Mexico-Canada Agreement (USMCA), 2020 was supposed to be a transitional year for the global auto industry. Analysts had expectations that sales in the sector had bottomed out and that growth in China would support the ... READ MORE >
ISM manufacturing index declines in February
The Institute for Supply Management’s manufacturing index — a key gauge of U.S. factory activity — dropped to 50.1 in February from 50.9 a month earlier, falling slightly below economists' expectations. Sluggish global growth amid the spread of the coronavirus was a factor in that drop. Figures above 50 in the index indicate the manufacturing economy is ... READ MORE >
Continued warnings or signs of bottoming out for industrial production and manufacturing
The Conference Board’s Leading Economic Indicator moved slightly lower in December, continuing a downward trend that began in the last months of 2018. Movement of the leading indicator has traditionally coincided with trends with industrial-sector activity. In this current cycle, the leading indicator has been propped up by a robust stock market and ... READ MORE >
Manufacturing activity declines for fourth straight month, ISM report shows
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 >