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| Economy |
| U.S. Manufacturing At Highest Level Since 2018 |
| 2021-02-04 |
| [Greg Jarrett] An incredible insight into the powerful and strong gains for U.S. manufacturing has been released by The Institute for Supply Management, an association of purchasing managers. As reported by the Associated Press, the managers "said Monday that its manufacturing index rose by 3.9 percentage points to a reading of 59.3% last month, up from 55.4% in September." The Biden effect oughta f*ck this up The report claims October gains are "the highest level in two years" even with the coronavirus impeding the country. "It was the highest level for this closely watched barometer of manufacturing health since September 2018. Any reading above 50 signals that manufacturing is expanding" writes the AP. The numbers are of particular importance because the gauge fell into recession numbers from March through May of 2020 due to the COVID-19 pandemic and the country shutdowns. October’s gains are reflected in "key areas such as employment and inventories" and of the 18 industries covered in the report, "15 reported expansion in October with strong growth in fabricated metals, food and beverages, chemicals and computers and electronics" reported the AP. Chair of the ISM manufacturing survey committee credited the strong demand coming "out of the spring lockups in such areas as home construction and auto sales." Many economists and fiscal conservatives are concerned about the country being forced back into lockups to thwart the spread of COVID. "Manufacturing rebounded strongly with fewer restrictions on economic activity and stimulus efforts but the path forward will be more difficult as the economy continues to cope with the pandemic," said Gus Faucher, chief economist at PNC Financial. |
| Posted by:Besoeker |
| #2 Don't worry. Biden and his cronies will kill this by summer. |
| Posted by: DarthVader 2021-02-04 11:57 |
| #1 If you still have a job, you can't spend your money on restaurants or entertainment. Only option left is to buy stuff. |
| Posted by: Gletch Ebbeating3749 2021-02-04 07:31 |