Mexican Media Brands
U.S. Factory Activity Picks Up
American manufacturing activity expanded in August at the fastest pace in more than two years, according to the Tempe, Ariz.-based Institute for Supply Management.
#economics
Share
American manufacturing activity expanded in August at the fastest pace in more than two years, according to the Tempe, Ariz.-based Institute for Supply Management.
The research group's manufacturing index rose to 55.7 last month from 55.4 in July. Any reading above 50 indicates expansion. In ISM's latest survey, 15 of 18 industries reported growth.
New orders jumped nearly five points to 63.2, the highest level since April 2011. Customer inventories dropped by a similar amount, which could mean growth in coming months as companies restock.
But ISM's production index slid 2.6 points to 62.4, and factory employment declined slightly. Raw materials prices jumped 5 points month over month to 54.0%. Economists say that increase could pinch the profits of manufacturers unless they pass along higher costs to consumers, thus stoking inflation.
RELATED CONTENT
-
MTU Research to Boost Fuel Economy ~20%
Researchers are using V2X communications and other methods to provide vehicles with a significant increase in fuel economy.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
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.