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| Economy |
| US manufacturing soars to a 15-month high |
| 2020-08-07 |
| [IndependentSentinal] Manufacturing in the USA is measured by a key business activity gauge. And it has soared to a 15-month high in July. This exceeded all expectations. The Institute for Supply Management (ISM) business survey, published on Monday, shows that its topline manufacturing activity indicator, called the Purchasing Managers’ Index (PMI), surged to a reading of 54.2 in July. Readings above 50 indicate expansion while those below mean contraction. Economists polled by Reuters predicted the manufacturing gauge to rise to 53.6 in July, so the higher-than-expected number is encouraging, particularly in light of April’s 11-year low of 41.5. “In July, manufacturing continued its recovery after the disruption caused by the coronavirus pandemic,” said Timothy Fiore. He is the chair of the ISM Manufacturing Business Survey Committee in a release. There are, however, concerns about sustainability. “Manufacturing is recovering from low levels and the outlook is uncertain, given the threat of repeated disruptions from virus outbreaks,” said Rubeela Farooqi. He is the chief U.S. economist at High Frequency Economics. He made the remarks to The Associated Press. |
| Posted by:g(r)omgoru |
| #7 ^ Embrace the sarcasm... |
| Posted by: Warthog 2020-08-07 07:18 |
| #6 #1, stunningly dumb comment. |
| Posted by: Thimp Clusort2035 2020-08-07 06:07 |
| #5 Sorry, misread the graph. Low of near 40 in April. Also New Order and Production hit a low of about 25 in April. Devastating. Manufacturing PMI (PDF File) |
| Posted by: Hupinens Juling5588 2020-08-07 01:40 |
| #4 PMI hit a low of under 40 in March or April of this year. Manufacturing was (still is) devastated and recovering from a severe |
| Posted by: Hupinens Juling5588 2020-08-07 01:34 |
| #3 Consumer product companies are working round the clock to restock supplies of household cleaners and toilet paper, and no doubt supplies for meals and for home improvements and repairs as well — that may have something to do with it. |
| Posted by: trailing wife 2020-08-07 01:13 |
| #2 Those numbers--being an election year--are probably just as suspect as COVID case numbers. |
| Posted by: Clem 2020-08-07 00:24 |
| #1 Jeez, I thought unnecessary lock-downs destroy the economy? (maybe necessary ones have the opposite effect?) |
| Posted by: g(r)omgoru 2020-08-07 00:19 |