none

US manufacturing on the rise

31-08-2010
by 
in 
US manufacturing on the rise

 

US industrial production rose more than expected last month – another clear sign US manufacturing is on the rebound.

Output at factories, mines and utilities climbed 0.7 percent, according to data from the Federal Reserve in Washington.

Economists polled by Reuters had expected industrial output to rise 0.4 percent.

Manufacturing output rose 0.8 percent during the month, bouncing back from a decline in January.

“It looks like a pretty good quarter for manufacturing,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York.

“Capital goods are doing well, autos came back a little bit and there’s strength in consumer goods. It’s looked pretty broad- based.”

General Motors Co (GM) and Ford Motor Co expect vehicle sales – on pace for the best year since 2007 – will remain resilient.

Cars and light trucks sold at a 15.3 million annual rate in February after 15.2 million a month earlier, according to data from Ward’s Automotive Group.

And retail sales increased 1.1 percent in February, according to latest Commerce Department figures.

Related news & editorials

  1. 20.07.2018
    20.07.2018
    by      In
    The Innovative Manufacturing CRC has signed a framework agreement with the Fraunhofer Society with the aim of increasing the awareness and uptake of Industry 4.0 in Australian manufacturing industry.
    The German Fraunhofer Society is one of Europe’s leading organisations for applied research, and... Read More
  2. 19.07.2018
    19.07.2018
    by      In
    The Australian Made Campaign has named Ben Lazzaro as its new Chief Executive, succeeding Ian Harrison, who steps down at the end of July. The announcement was made following the organisation’s board meeting this week in Melbourne.
    Lazzaro, who has an engineering and communications background, has... Read More
  3. 19.07.2018
    19.07.2018
    by      In
    Siemens Australia and Motorola Solutions have formalised their relationship to develop innovative technologies for Australia’s industrial sector via an exclusive partnership. Motorola Solutions has joined the Siemens’ Solution Partner Programme, becoming only the second company in Australia... Read More
  4. 18.07.2018
    18.07.2018
    by      In
    Australia’s only dedicated trade event for the electronics industry will this year be held in Sydney in September. Electronex – The Electronics Design and Assembly Expo will be staged on 5th and 6th September at Rosehill Gardens Event Centre with free parking for visitors.
    The expo is now in its... Read More