none

US MANUFACTURING EXPANDS IN MAY

14-06-2016
by 
in 

Economic activity in the US manufacturing sector expanded in May for the third consecutive month.

This follows five consecutive months of contraction. The final Markit US Manufacturing PMI came in at 50.7, slightly up from 50.5 in the preliminary estimate but down from 50.8 in the previous month.

It is the lowest figure since September of 2009 as output fell for the first time in more than 6 and a half years and new work expanded at the slowest pace since December last year while job growth picked up and input cost inflation accelerated to a nine-month high.

Manufacturing PMI in the US averaged 53.77 from 2012 until 2016, reaching an all time high of 57.90 in August of 2014 and a record low of 50.70 in May of 2016.

The latest survey highlighted only a modest increase in new business intakes, with the pace of expansion easing to a five-month low.

Manufacturers cited a range of factors acting to dampen client spending, including weak capital investment across the energy sector, uncertainty related to the presidential election and generally subdued economic conditions.

Added to this, a marginal drop in export sales also weighed on overall new business growth in May.

Related news & editorials

  1. 19.11.2018
    19.11.2018
    by      In
    Leading engineering technology and systems innovation consultancy Frazer-Nash has tripled the size of its Adelaide headquarters, with SA premier Steven Marshall officiating at the recent opening ceremony.
    The company’s Australian Director, Jonathan Armstrong said: “We’ve created 40 high value jobs... Read More
  2. 19.11.2018
    19.11.2018
    by      In
    Following the success of this year’s Electronex at Rosehill Gardens in Sydney, the show organiser has announced that the 2019 Expo will be held in the new extension of the Melbourne Convention & Exhibition Centre on the 11th and 12th September next year.
    The Sydney event was judged an... Read More
  3. 15.11.2018
    15.11.2018
    by      In
    It’s less than a year since Lapp Australia started trading, but the company has swiftly established itself in the local market, with significant penetration in sectors such as food and beverage, manufacturing, solar, sound and stage production, electrical contracting, machine building and... Read More
  4. 12.11.2018
    12.11.2018
    by      In
    Energy Vault has developed a novel solution to storage for renewable energy plants that involves neither batteries nor water.
    The Energy Vault system is based on the fundamental physics of potential and kinetic energy, and uses a proprietary, cloud-based software platform to operate a newly... Read More