Mexican Media Brands
U.S. Factory Activity at 14-Year High
Factory activity in the U.S. accelerated to its fastest pace in more than 14 years last month, thanks to gains in output, sales, new orders and employment.
#economics
Share
Factory activity in the U.S. accelerated to its fastest pace in more than 14 years last month, thanks to gains in output, sales, new orders and employment.
The Institute for Supply Management’s manufacturing index for August climbed to 61.3 from 58.1 in July. Any number above 50 indicates expansion.
The increase surprised analysts. Many expected that uncertainties about trade and more sluggish growth in some of the country’s largest export markets would cause a slight dip in the August index.
Many economists say the uptick portends a strong performance for the American economy in the second half of 2018. They also expect the Federal Reserve will respond by implementing previously announced plans to increase interest rates by one-quarter point in September and December.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.