After three months of softening manufacturing payroll data, hiring continued and experienced an uptick in October, according to Bureau of Labor Statistics data released Friday. There were 32,000 net new manufacturing jobs added last month, an increase from the 23,000 added in September. Another ... READ MORE >
manufacturing
RSM US Manufacturing Outlook Index: Continued signs of a slowdown
The downturn in manufacturing activity continued for the sixth consecutive month in October, according to the RSM US Manufacturing Outlook Index. With surging inflation and rising interest rates acting as a deadweight on business activity and expansion, it is likely that the global economy is either in or ... READ MORE >
Canada positioned to thrive in EV landscape—and other takeaways from EV/VE 2022
Electric mobility is no longer the future—it’s the present. That was one of the key messages at EV/VE 2022, Electric Mobility Canada’s conference in Toronto last month. The national not-for-profit organization’s event drew electric vehicle sector stakeholders including federal and municipal governments, ... READ MORE >
Positive manufacturing jobs data masks broader issue of tech investment
U.S. manufacturers’ hiring pace remained in positive territory in September with a net increase of 22,000 in manufacturing payrolls from August, according to data released Friday by the Bureau of Labor Statistics. The sector’s pace of hiring has slowed since its recent peak in April of this year at ... READ MORE >
Industrial production rose in July, tempering recession fears despite housing starts drop
While a sharp drop in U.S. housing starts in July will continue to put a dent in the residential investment component of third-quarter gross domestic product, the strong bounce back of industrial production volume should temper recession fears. U.S. industrial production beat estimates last month, ... READ MORE >
RSM US Manufacturing Outlook Index: Sour topline sentiment despite robust shipments
The RSM US Manufacturing Outlook Index showed modest improvement over the last month, likely due to a combination of easing oil and energy costs as well as improved external demand despite weaker domestic economic activity. Although current shipments remain robust, new orders moved lower, which implies ... READ MORE >
Manufacturing sector activity hits lowest level in two years
U.S. manufacturing sector activity continued to slow in July to its lowest level in two years as demand and prices cooled off, the Institute of Supply Management reported on Monday. The manufacturing purchasing managers’ index inched down to 52.8 from 53 the previous month, still indicating growth as ... READ MORE >
RSM US Manufacturing Outlook Index shows a slowing industrial sector
The RSM US Manufacturing Outlook Index declined in June, signaling a slowdown in overall economic activity. The reading of 1.1 standard deviations below normal suggests that tighter financial conditions and the energy shock are taking a toll on the industrial sector. Our index is a composite of surveys ... READ MORE >
Chart of the day: Industrial production hits a record amid signs of a slowdown
Industrial production in the United States hit a record in May, but signs of a coming economic slowdown emerged in the report released on Friday by the Federal Reserve. Production volume overall increased by 0.2% on the month for the fifth straight monthly gain. At the same time, manufacturing ... READ MORE >
Manufacturing sector grew steadily in May
The manufacturing sector expanded at the slightly faster rate in May as demand remained strong, according to data from the Institute for Supply Management on Wednesday. The data will help alleviate some of the concern over an imminent recession as our recent RSM US Manufacturing Outlook Index dipped ... READ MORE >