Week 27 in Manufacturing News
Top US manufacturing index jumped the most since 1980 in June as reopenings spurred growth; U.S. manufacturing activity hits 14-month high; UK manufacturers outpace Europe; German manufacturing contraction eases in June: PMI.
Top US Manufacturing Index Jumped the Most Since 1980 in June as Reopenings Spurred Growth
A key measure of US manufacturing leaped back into growth territory in June as factories reopened and state economies turned back online.
The Institute for Supply Management’s manufacturing index surged 9.5 points to 52.6 last month, its biggest increase since 1980. June’s increase brings the metric to a 14-month high and pushes it above the key threshold of 50 for the first time since February.
Source: Business Insider
U.S. Manufacturing Activity Hits 14-Month High
WASHINGTON (Reuters) – U.S. manufacturing activity rebounded in June, hitting its highest level in more than a year as the broader economy reopened, but rising COVID-19 infections threaten the recovery.
The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity jumped to a reading of 52.6 last month from 43.1 in May. That was the strongest since April 2019 and ended three straight months of contraction.
UK Manufacturers Outpace Europe
British firms show return to growth while eurozone manufacturers are still stuck in decline, surveys show.
The UK is leading Europe’s manufacturing revival as industry springs back into action after lockdown.
Source: The Telegraph
German Manufacturing Contraction Eases in June: PMI
BERLIN (Reuters) – Germany’s manufacturing sector contracted at a slower pace in June, a survey showed on Wednesday, as factories ramped up production after restrictions to constrain the spread of the coronavirus were lifted.
IHS Markit’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the German economy, rose to a three-month high of 45.2 from 36.6 in May. That was still below the 50 mark that separates growth from contraction but above a flash reading of 44.6.