none

US MANUFACTURING SURGES IN JULY

20-08-2014
by 
in 

US manufacturing activity surged by 1% last month, with auto production recording its biggest rise in five years.

The highly watched Institute for Supply Management’s factory index rose to 57.1 in July, the highest reading since April 2011. Readings above 50 signal expansion, and readings below 59 signal contraction.

Last month’s gain was the largest since February and reflected increases across all major categories.

Auto production led the way with a +10.1% leap, its biggest rise in five years. Cars and light trucks sold at a 16.4 million yearly pace in July after a 16.9 million pace in June – the strongest since July 2006, according to data from Ward’s Automotive Group.

There was also strong machinery output during the month.

Manufacturing accounts for about 12 percent of the US economy and the latest figures indicate that business investment is beginning to pick up.

The strong manufacturing report means the US economy is still accelerating on top of the second quarter’s robust +4% annual pace that is consistent with 3% growth this quarter.

The strong rise in manufacturing and a 0.3% advance in mining output offset a mild weather-related 3.4% decline in utilities production, for a +.4% rise in industrial production in July. 

Related news & editorials

  1. Hayley Glasgow
    12.04.2021
    12.04.2021
    by      In
    More than half (55%) of Australian manufacturers with off-shored operations intend to bring them back to our shores by 2023, according to a survey of 500 senior manufacturing employees in December last year.
    This is largely being driven by market volatility caused by the pandemic and strained... Read More
  2. AMW Melbourne 2022
    09.04.2021
    09.04.2021
    by      In
    Australian Manufacturing Week 2022 (AMW), the premier manufacturing solutions event, promises a strong line-up of content and will focus on leadership, future solutions and additive manufacturing.
    AMW is owned and operated by the Australian Manufacturing Technology Institute Limited (AMTIL). which... Read More
  3. Engineering graduates
    09.04.2021
    09.04.2021
    by      In
    Graduates of Australian universities are far more likely to satisfy their employers if they hold an engineering or related degree than is the case if they hold a creative arts degree.
    Satisfaction levels are ranked at 90.5% and 78.3% respectively, according to a survey last year by Quality... Read More
  4. Conymet Duratray
    08.04.2021
    08.04.2021
    by      In
    Cranbourne Victoria will become the centre for an internationally supported manufacturing facility that will create up to 100 new highly skilled jobs.
    Minister for Economic Development Tim Pallas welcomed the decision by Conymet Duratray International to grow its current Victorian footprint by... Read More
Products
Suppliers