U.S. Manufacturers Had a Good July. Falling Inventories Are a Concern; US: Richmond Fed Manufacturing Index Improves From 10 to 18 in August; UK Retail Sales Climb Back to Pre-Pandemic Levels; Daily Manufacturing News Digest – The Industry Stories You Should be Aware of Today
U.S. Manufacturers Had a Good July. Falling Inventories Are a Concern.
Good news for the U.S. manufacturing sector: excluding the beleaguered producers of civilian aircraft and parts, the V-shaped recovery looks to be in full swing. The biggest skeptics seem to be the manufacturers themselves.
The value of new orders for durable goods in July (excluding civilian aircraft and parts) was just 0.4% below the peak in February, and higher than in January. Meanwhile, the value of durable goods excluding civilian aircraft and parts delivered to customers by American manufacturers in July was 1% higher than in February.
US: Richmond Fed Manufacturing Index Improves From 10 to 18 in August
- Richmond Fed Manufacturing Index continued to edge higher in August.
- US Dollar Index holds above 93.00 but stays in the negative territory.
The activity in the Federal Reserve’s Fifth District’s manufacturing sector expanded at a stronger pace in August than it did in July with the Composite Index of the Richmond Fed’s Survey of Manufacturing Activity rising to 18 from 10.
Source: FX Street.
UK Retail Sales Climb Back to Pre-Pandemic Levels
Retail sales rose above pre-pandemic levels in July as a rebound in demand continued, according to official figures.
The Office for National Statistics (ONS) said retail sales volumes rose by 3.6% between June and July.
It said sales are now 3% higher than February before the World Health Organization declared a pandemic and the UK was placed in lockdown.
Clothing sales grew last month and people spent more money on petrol.
Daily Manufacturing News Digest – The Industry Stories You Should be Aware of Today
Each day The Manufacturer compiles the top manufacturing news stories from around the web. To make your life a little easier, we trawl through all the major trade publications, broadsheets and business magazines to find you the most important manufacturing news each morning.
Source: The Manufacturer.