Week 36 in Manufacturing News
Manufacturing is doing all right, for now; U.S. manufacturing activity strongest in nearly two years in August; August U.S. Manufacturing Best in 2 Years: 5 Solid ETF Areas; UK manufacturing production grows at fastest rate in six years.
Manufacturing is Doing all Right, for now
The Purchasing Managers Index is out today, it’s a measure of activity in the manufacturing sector and it’s at a healthy 56 — the highest measure of manufacturing activity since 2018. Anything above 50 means growth, and orders are surging.
Business is good for Michael Araten, CEO of Sterling Drive Ventures. “We’re going gangbusters,” Araten said. “We’re virtually at capacity of production. We’re hired people; we’re looking to hire more people.”
U.S. Manufacturing Activity Strongest in Nearly two Years in August
WASHINGTON (Reuters) – U.S. manufacturing activity accelerated to a nearly two-year high in August amid a surge in new orders, but employment continued to lag, supporting views that the labor market recovery was losing momentum.
The Institute for Supply Management (ISM) said on Tuesday its index of national factory activity increased to a reading of 56.0 last month from 54.2 in July. That was the highest level since November 2018 and marked three straight months of growth.
August U.S. Manufacturing Best in 2 Years: 5 Solid ETF Areas
The beginning of Q3 showed an improving trend in manufacturing activity in the United States. After clocking the highest reading since March 2019 in July, U.S. manufacturing activity accelerated to a nearly two-year high in August due to solid new orders (read: Global Manufacturing Rebounding: ETFs in Focus).
The Institute for Supply Management (ISM) said on Sep 1 that its index of national factory activity rose to a reading of 56.0 last month from 54.2 in July. That marked the highest level since November 2018 and three successive months of growth. Economists polled by Reuters had forecast that the index would rise to 54.5 in August.
Source: Yahoo! news
UK Manufacturing Production Grows at Fastest Rate in six Years
MANUFACTURING output in the UK expanded at the fastest rate for more than six years in August, as companies restarted operations following the pandemic.
But firms – including Bombardier in Belfast – also continued to slash jobs as they look to reduce costs and stabilise their finances, according to new figures.
The closely-followed IHS Markit/CIPS manufacturing purchasing managers’ index (PMI) recorded a score of 55.2 in August, from 53.3 in July. Anything above 50 is considered an expansion in the sector.
Source: The Irish News