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, ... 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 ... 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 ... 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 ... 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 ... 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 ... READ MORE >
The worst may be over for the manufacturing sector, but industry remains cautious
The RSM Manufacturing Outlook Index is reporting a remarkable rebound of sentiment in the U.S. manufacturing industry. But while the worst might be behind us, the index remains slightly negative at nearly 0.3 standard deviations below normal conditions, which suggests that a national recovery has yet to ... READ MORE >
Latest Empire State Manufacturing Survey shows a spike in optimism
Manufacturing firms in New York state were more optimistic in June that business conditions would be better in six months, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York. The index for future business conditions rose between May and June by 27.4 points ... READ MORE >
Latest ISM manufacturing data shows signs of stabilization
The Institute for Supply Management index, a closely watched measure of U.S. manufacturing activity, rose in May for the first time since January, hinting that activity is beginning to stabilize following huge market disruptions created by the COVID-19 pandemic. The index improved to 43.1 in May from ... READ MORE >
Manufacturing sector outlook less dire than last month, but still bleak
The RSM Manufacturing Outlook Index is now 4.2 standard deviations below normal conditions, an assessment of manufacturing conditions that is not as dire as last month, but dire nonetheless. Perhaps last month’s reading of about six standard deviations below normal was an indication from manufacturers ... READ MORE >