none
none

Slower growth in US manufacturing

31-08-2010
by 
in 

 

US manufacturing grew in May – but more slowly than the previous month due to declining production and weaker hiring rates.
 
The good news is that new orders rose to a 13-month high, suggesting factory activity will pick up this month.
 
The Institute for Supply Management, a trade group of purchasing managers, reported its index of manufacturing activity fell to 53.5 in May, down from a reading of 54.8 in April. A reading above 50 indicates expansion.
 
Slower manufacturing growth followed a disappointing report on May employment that suggests the economy has weakened.
 
The Labor Department said employers created 69,000 jobs in May, the fewest in a year. The unemployment rate ticked up to 8.2 per cent from 8.1 per cent in April.
 
An employment gauge in the ISM's survey slipped from April's level, but showed factories were hiring at a solid pace. Industries reporting growth in May employment included clothing and leather, metals and mineral products.
 
The Labor Department's employment report showed factories added 12,000 jobs in May.
 
An ISM gauge of new orders rose to 60.1, the highest since April 2011. That could signal faster production ahead.

Related news & editorials

  1. 16.11.2017
    16.11.2017
    by      In
    Beacon Lighting is well on the way to substantially reducing its carbon footprint as its partner Upstream Energy nears completion of a national solar project spanning more than 70 stores and saving millions of kilograms of carbon emissions each year.
    Upstream Energy developed a proposal to deliver... Read More
  2. 16.11.2017
    16.11.2017
    by      In
    The Brisbane company Nordon Cylinders is well aware that it has a key role in keeping the wheels of industry turning. However, its customers at home and abroad require hydraulic cylinders from tiny to humungous, and they don’t always want them today – sometimes, they want them yesterday.
    At its... Read More
  3. 16.11.2017
    16.11.2017
    by      In
    Wiivv Wearables is on a mission to make body-perfect gear accessible to the masses. Its flagship product, a custom shoe insole, has proven to be a good first step and uses a combination of customer-collected smartphone data and 3D printing to feed its design and manufacturing process.
    According to... Read More
  4. 14.11.2017
    14.11.2017
    by      In
    Good use is being made of the now-closed Holden manufacturing plant in South Australia, as a series of generators has been installed in to supplement the state's power grid during the incoming high-demand summer period.
    The diesel generators have been set up at the former Holden manufacturing plant... Read More