Economic Watch: Manufacturing Surges, Construction Scores Record High

A Computer Numeric Control operator works alongside robots manufacturing gears at the SEW-Eurodrive Inc. production facility in Lyman South Carolina U.S. on Friday

USA factory activity rose more than expected in last December, the latest sign of strong US economic momentum, the data released by The Institute for Supply Management (ISM) revealed on Wednesday.

The group's manufacturing index, known as the PMI, was 59.7%, up from 58.2% in November, according to a monthly report. Also increasing with the PMI was the new orders index, which rose to 69.4% from 64% the previous month. The employment index dropped to 57.0 in December from 59.7 in November, although the reading above 50 indicates the fifteenth consecutive month of job growth in the manufacturing sector.

"The only mild disappointment here is a 2.7-point dip in the employment component, but it's still high at 57.0, and overall this is a very strong report".

ISM's semi-annual forecast released last month showed 65 per cent of firms surveyed had difficulty hiring new employees and 44 per cent increased starting pay to attract new workers. This indicates a slower pace of deliveries as production strives to keep pace with a growing number of new orders.

Taoiseach concerned that abortion proposals 'go too far'
I want to acknowledge that this has been a very challenging issue, a very sensitive issue over the past 35 years. Mr Varadkar would not be drawn on his own view and said he would have to see the referendum question first.

ISM said 16 of 18 industries reported economic expansion in December. The Customer Inventories Index registered 42 percent in December, which is 3.5 percent lower than November.

While growth in New Orders is obviously a positive indicator for manufacturers, some struggles have accompanied this growth. In other news, inventories (up from 47.0 to 48.5) contracted for the third straight month. Even better, the rise in the headline index reflects a 5.4-point jump in the new orders index to 69.4, the highest since Jan 2004.

The latest data brings the average reading in 2017 to 57.6, the highest level in 13 years. Order backlogs have grown for 11 consecutive months.

Of the 16 industries reporting growth in December, the machinery, chemical, and computer and electronic products sectors reported the biggest gains.

Related News:



Most liked

Those not on NRC likely to face trouble
So, my only request to the government is that no genuine citizen should be left out of that register, ” she said. The Bill proposes to grant citizenship to Hindu Bengalis with a cut-off date of December 31, 2014.

Mercedes launching G-class with resin cube '79
Similar to systems like Amazon Alexa , the voice-activated assistant can be summoned with the phrase " Hey, Mercedes ". A unique feature of the MBUX is the system's ability to learn your driving habits thanks to artificial intelligence.

Gov. Sam Brownback to deliver his final State of the State address
Brownback's administration worked on its budget proposals for weeks, allowing hints to leak to lawmakers early. In fact, he blocked us on every path, and now he's just putting the screws to us for next year.

Diet Coke Gets Brand Makeover In Bid To Attract Millenials
Almost a year ago Coca-Cola revealed a new "one brand" marketing approach to counteract the brand's diluted presence on shelf. The new Diet Coke range will be packaged in taller 12-oz cans, and sold as on-the-go singles and in eight-packs.

'John Wick' TV Series 'The Continental' Coming to Starz
The show will focus on the unusual events that occur inside the hotel-for-assassins, The Continental , according to Deadline . There is no word on whether or not this will affect (possible title) John Wick Chapter 3 , but we'll know soon enough.

Gardner to Investigate Greitens Affair
She also said during the taped conversation that Greitens threatened to release the photo if she went public about the affair. The woman involved in the affair has not been named. "This personal matter has been addressed by the Governor and Mrs.

Vets' home hearing on Legionnaires' nearly underway
Veterans' Affairs Director Erica Jeffries says "We continue to find more cases because we are looking for more cases". The calls are in response to the deaths of 12 IVH residents from Legionnaire's disease in 2015 and one more in 2017.

Suspect accused of shooting Knoxville police officer now TBI's 'Most Wanted'
The Tennessee Bureau of Investigation said the driver shot at the officer with a handgun and a shotgun. So we ask that folks if you see the vehicle, if you know this individual, then do not intervene.

OPEC oil cut adherence rises in Dec as Venezuela output slides
Oil prices fell Friday as some investors cashed in on the week's strong gains and others mulled ambiguous US inventory data. Gasoline stocks in the US are expected to grow by 2 million barrels a week, distillates - by 1.3 million barrels.

Three Soldiers fall from Helicopter during Practice Drill
The jawans accidentally fell off after a rope slipped off ALH Dhruv helicopter during a rehearsal for Army Day. A video shows two soldiers sliding down the rope hanging from Dhruv helicopter.

Bezos Donates $33 Million to Dreamers' Scholarship Fund
They also must pay out-of-state or worldwide tuition, which often more than three times in-state tuition in more than 15 states. Bezos' wealth recently hit. "MacKenzie and I are honored to be able to help today's Dreamers by funding these scholarships".

Female SNK fighters team up for Switch beat 'em up
The trailer showed series mainstays Mai Shiranui, Athena, Yuri Sakazaki, Kula Diamond and Leona Heidern. The most powerful women in SNK's storied fighting history will soon have their own Switch fighter.

Magellan Midstream Partners LP (MMP) and Hudbay Minerals Inc (HBM)
It worsened, as 15 investors sold BEAT shares while 66 reduced holdings. 91 funds opened positions while 196 raised stakes. It increased, as 56 investors sold C shares while 400 reduced holdings. 69 funds opened positions while 205 raised stakes.

Indian state of Tamil Nadu enters 7th day
The striking unions wanted the wage revision to be fixed at 2.57 times - while the state government insisted it be 2.44. The strike has affected the passengers across the state.

Amazon CEO Now the Richest in History
Gates has given away 700 million shares of Microsoft, which are worth more than $60 billion along with nearly $3 billion in cash. Bezos earned the title of world's richest person back in July, when he briefly passed Bill Gates, but lost the spot soon after.