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. 10.12.2018
    10.12.2018
    by      In
    Aurecon has named Louise Adams as Managing Director for Australia and New Zealand. She was formerly Regional Director responsible for the company’s South Australian and Victorian practice.
    Announcing the appointment, incoming Global Chief Executive Officer, William Cox, said: “Senior female... Read More
  2. 10.12.2018
    10.12.2018
    by      In
    Safety specialist Axelent is expanding its activities in Australia and New Zealand with the addition of Rob Quinn as Business Development Manager with a brief to focus on customer development and growth in the New South Wales and Queensland markets.
    “I am so pleased to welcome Rob Quinn to the... Read More
  3. 10.12.2018
    10.12.2018
    by      In
    As part of its strategic initiative to grow in its existing markets, MaxiTRANS is set to acquire Australasian Machinery Sales (trading as Trout River Australia), a leading manufacturer and supplier of live bottom trailers.
    The acquisition will be completed in two tranches, with 80% of Trout River... Read More
  4. 06.12.2018
    06.12.2018
    by      In
    With considerable experience in developing products for the garden market, industrial designer Shoji Sinclair was a natural choice to work in collaboration with Pope when the company wanted a new design for its Handy Hose Reel and Cart range, for sale in Australian mass merchant outlets.
    As with... Read More