U.S. manufacturing near two-year high; road ahead difficult; UK Manufacturing Beats Expectations for Fifth Month; Australian Manufacturing Growing Again; Manufacturing’s Top 5 Health and Safety Lessons.
U.S. Manufacturing Near Two-Year High
U.S. manufacturing activity accelerated more than expected in October, with new orders jumping to their highest level in nearly 17 years amid a shift in spending toward goods like motor vehicles and food as the COVID-19 pandemic drags on.
The survey on Monday from the Institute for Supply Management (ISM) was the last piece of major economic data before Tuesday’s bitterly contested presidential election. But the outlook for manufacturing is challenging.
UK Manufacturing Beats Expectations for Fifth Month
The IHS Markit/CIPS purchasing managers’ index weakened to 53.7 from 54.1 during September, however, it was revealed that the result beat an initial calculation and consensus estimate of 53.3.
It showed that output increased at an above-average rate as new work came in and factories caught up on orders delayed during the first COVID-19 lockdown.
Exports strengthened on demand from China and the United States as European buyers stocked up prior to the Brexit trade deal deadline.
Source: Manufacturing Global.
Australian Manufacturing Growing Again
The Australian Industry Group’s Performance of Manufacturing Index has suggested a strong recovery for the country’s manufacturing sector in October.
The overall PMI result was 56.3, up 9.6 points on September’s figure.
Any result over 50 indicates expansion, below it contraction, and a result of 50 indicates no change.
Manufacturing’s Top 5 Health and Safety Lessons
The Costly Reality – staying on top of your health and safety.
Safety Assessments – workplace safety assessments, as the way we all operate has now changed and employers have had to re-evaluate their processes.
Things Change More Quickly – be prepared for adjusting to change – rapidly. You must innovate or you evaporate.
Training – providing health and safety training helps you to ensure your employees are not injured
Don’t Overlook the Small Stuff – the washing of hands, keeping a safe distance, and practicing good hygiene.