U.S. manufacturing activity remained robust in January but faced challenges on the labor and supply chain front, according to new data released Monday by the Institute for Supply Management. These challenges are limiting production and driving up prices. The ISM’s Manufacturing Purchasing Managers’ ... READ MORE >
Industrials
RSM US Manufacturing Outlook Index: Mixed results and a potential pause in the recovery
Sentiment among American manufacturers has receded again because of the rapid spread of COVID-19 that has taken a toll on the labor market, consumer demand and the economy. Since bottoming out in April and then bouncing back by October, the RSM US Manufacturing Outlook Index is showing signs of ... READ MORE >
Economic recovery drives up raw material prices
Manufacturing activity during the pandemic tanked in April and May last year and has been inching toward recovery ever since. As manufacturing activity rebounds, companies are experiencing volatility not just in demand but also in raw material prices, which have been rising. Recovery in the automotive, ... READ MORE >
CHART OF THE DAY: U.S. durable goods orders rise for eighth straight month
Orders for long-lasting factory goods increased in December for the eighth straight month, according to U.S. Department of Commerce data released on Wednesday. New orders for durable goods rose 0.2% to a seasonally adjusted $245.3 billion in December, following an upwardly revised 1.2% gain (previously ... READ MORE >
The Biden administration’s suspension on federal drilling permits: an explainer
In line with President Joe Biden’s campaign promises, the U.S. Department of the Interior last week under his new administration suspended approvals of new oil and gas drilling permits and leases across domestic federal lands for 60 days. Following the news, some producers experienced a drop in stock ... READ MORE >
CHART OF THE DAY: Manufacturing upturn strongest since 2014
Driven in part by new orders, U.S. manufacturing output growth accelerated in January at the second-fastest rate in almost six years, according to the IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index. The index posted a reading of 59.1 in the first half of January, up from 57.1 in ... READ MORE >
China’s economic power: You may not like it, but you cannot ignore it
The pandemic, infrastructure and climate change policies will likely take precedence over trade in the Biden administration’s near-term agenda, but the new president’s trade positions will also be a key area of focus as the United States works toward economic recovery. China’s importance in global trade ... READ MORE >
CHART OF THE DAY: U.S. manufacturing activity finishes the year strong
U.S. manufacturing activity continued to expand in December, according to the Institute for Supply Management's Manufacturing Purchasing Managers’ Index released on Tuesday. The index registered 60.7 in December, its eighth straight month of expansion, and 3.2 points above the 57.5 reading in November. ... READ MORE >
RSM US Manufacturing Outlook Index remains positive, but within a range
Optimism in the American manufacturing community is poised to continue in the new year, though with some caution attached. It is clear that the risks around the pandemic are rising and we may observe volatility in manufacturing indices until the bottlenecks around vaccine distribution are solved. The ... READ MORE >
CHART OF THE DAY: U.S. factory growth remains robust
The recovery in U.S. and global manufacturing activity continued through the end of 2020, even as new COVID-19 infections increased across the globe. U.S. manufacturing activity accelerated at its fastest pace in more than six years in December, according to the IHS Markit U.S. Manufacturing Purchasing ... READ MORE >