Week 3 in Manufacturing News
US and China Sign Deal to Ease Trade War; The U.S. Added 145,000 Jobs in December; UK Manufacturing Production arrives at -1.7% MoM in Nov vs. -0.3% expected; The Manufacturer: Top Stories and Podcasts of 2019.
US and China Sign Deal to Ease Trade War
The US and China have signed an agreement aimed at easing a trade war that has rattled markets and weighed on the global economy.
Chinese leaders called it a “win-win” deal that would help foster better relations between the two countries.
China has pledged to boost US imports by $200bn above 2017 levels and strengthen intellectual property rules.
In exchange, the US has agreed to halve some of the new tariffs it has imposed on Chinese products.
The U.S. Added 145,000 Jobs in December
The Labor Department’s monthly jobs report suggests that the economy ended 2019 on a steady footing.
The U.S. added 145,000 jobs in December, capping a year of steady gains and showing that the labor market has not yet run out of breath.
One discouraging piece of the Labor Department’s monthly report was anemic wage growth. Over the past 12 months, wages grew just 2.9 percent. That was substantially below the 3.3 percent average in 2018.
Source: The New York Times.
UK Manufacturing Production arrives at -1.7% MoM in Nov vs. -0.3% expected
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Monday, with the overall industrial activity witnessing further deterioration in November.
Manufacturing output arrived at -1.7% MoM in November versus -0.3% expectations and +0.5% booked in October, while total industrial output came in at -1.2% vs. -0.1% expected and +0.4% last.
Source: FX Street.
The Manufacturer: Top Stories and Podcasts of 2019
- Top jobs in 2040 will involve virtual reality, artificial intelligence & robotics
- Report: Major car brand will ‘cease to exist’ after automotive trade war
- Smart factories could add $1.5tn to world economy
Top 10 interviews & podcasts of 2019:
- Henrik von Scheel: In conversation with the ‘Father of Industry 4.0’
- Why industrial strategy must not become the victim of politics
- In conversation with Mike Hawes, chief executive of the SMMT