Though the looming government shutdown would likely only push a small portion of economic activity into 2024, it could have significant impact on middle market manufacturers. One reason for this is that October can be a critical time to manage supply chains, address any potential disruptions and get ... READ MORE >
Industrials
RSM US Manufacturing Outlook Index: Four months of improvements at risk
The RSM US Manufacturing Outlook Index continues to improve, with September’s results the fourth month of a developing uptrend. Three of the five regional Federal Reserve surveys reported increased activity during the month, while the Philadelphia and Kansas City regions reported significant ... READ MORE >
Business equipment spending rebounds
Business orders for equipment rebounded in August after falling for two straight months, an encouraging sign for American businesses, which should look through the current economic headwinds to prepare for a soft-landing in the economy. Wednesday's data on the broader economy was in line with what our ... READ MORE >
Potential impact of UAW strike would not be sufficient to cause recession
The threat of a strike among the 146,000 United Auto Workers at the so-called Big Three automakers of Ford, General Motors and Stellantis puts at risk half a billion dollars per day in an economy that generates more than $26.7 trillion in goods and services each year, or more than $73 billion per ... READ MORE >
Contraction in manufacturing eased in August
The contraction in manufacturing sector eased in August, fueled by record spending on new plants in July. The data adds to signals that the manufacturing sector is nearing a bottom and that a rebound is not too far away. The manufacturing purchasing managers’ index rose to 47.6 in August, up from ... READ MORE >
RSM US Manufacturing Outlook Index: Signs of a bottom
The decline in the RSM US Manufacturing Outlook Index appears to be nearing a bottom. We think that the mild recession in the manufacturing sector is approaching its end. The nascent manufacturing construction boom will soon translate into robust new orders and we think that a policy-induced tailwind will ... READ MORE >
Business investment loses momentum in July
Business spending on equipment eked out a slight gain in July in what was a disappointing start for the investment component of the economy in the third quarter. Jobless claims, however, defied expectations again, dropping last week to the lowest level in August. Orders for capital goods that ... READ MORE >
Industrial production and housing rebound in July, affirming GDP growth outlook
Industrial production, housing starts and permits in July have set the tone for a robust third quarter, as GDP growth is expected to be stronger than the long-run level of 1.8%. Industrial production rose 1% on the month, while housing starts and permits rose 3.9% and 0.1%, respectively, according to ... READ MORE >
Fed survey of loan officers shows rising impact of higher interest rates
The Federal Reserve’s latest survey of bank loan officers confirms that the dampening effect of monetary-policy tightening on borrowing and lending continued in the second quarter. This implies that the residual impact of interest rate increases and the banking turmoil that engulfed local and regional ... READ MORE >
RSM US Manufacturing Outlook Index: A continued decline in July
The RSM US Manufacturing Outlook Index moved sideways in July as manufacturing firms in four of the five Federal Reserve regions again reported outright declines in activity as well as declines in new orders. Only the New York region reported increased activity and a rise in new orders, and ... READ MORE >