Orders for long-lasting factory goods increased in December, 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 1%) in November. … READ MORE >
Industrials
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. … READ MORE >
CHART OF THE DAY: Manufacturing upturn strongest since 2014
Driven 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. … READ MORE >
China’s economic power: You may not like it, but you cannot ignore it
China’s importance in global trade continues to grow, and so many countries have become dependent on China that global economies do not have the option of ignoring it. … READ MORE >
CHART OF THE DAY: U.S. manufacturing activity finishes the year strong
The ISM Manufacturing Purchasing Managers’ 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. … READ MORE >
CHART OF THE DAY: U.S. factory growth remains robust
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 Managers’ Index released on Monday. … READ MORE >
CHART OF THE DAY: Industrial production continues its recovery
The Federal Reserve on Tuesday said its index of industrial production, a measure of output at factories, mines and utilities, rose last month as output continued to recover from the depths of the economic shutdown this spring. Total production rose 0.4% in November, slightly above the consensus of 0.3% and … … READ MORE >
Container crunch pushes shipping rates to record highs
Surging demand for Asian imports and a shortage of containers are congesting U.S. ports, causing headaches for companies importing from Asia, skyrocketing shipping rates and surging purchase prices for containers. … READ MORE >
CHART OF THE DAY: Manufacturing expansion continues in November
U.S. manufacturing activity continued its expansion in November, according to the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index. The index registered 57.5 in November, its seventh straight month of expansion, but was 1.8 points below the 59.3 reading in October. … READ MORE >