Factories Keep Humming in U.S. Even Amid Global Slowing
Source: Bloomberg
By Victoria Stilwell Dec 1, 2014 12:08 PM ET
Manufacturing growth in the U.S. barely skipped a beat in November, holding near the strongest pace in three years, as the worlds largest economy rose above a global slowdown.
The Institute for Supply Managements factory index was little changed at 58.7 last month, the second-strongest level since April 2011, compared with 59 in October, the Tempe, Arizona-based group reported today. Readings greater than 50 indicate expansion.
Orders over the past four months have been the strongest in a decade as growing demand from American clients makes up for any letdown among foreign customers. Figures yesterday showing retailers struggled to lure shoppers during the first weekend of the holiday season raise concern that the pace of growth will be difficult to sustain heading into 2015.
Whatever is happening abroad, this sector seems to be shrugging it off, said Guy Berger, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut, who projected a reading of 58.5. Theres still a fair amount of momentum in the U.S. manufacturing sector.
Read more: http://www.bloomberg.com/news/2014-12-01/manufacturing-in-u-s-expanded-more-than-projected-in-november.html
Kelvin Mace
(17,469 posts)until the oil bubble bursts, and all of the dodgey Wall Street finance scams used to fund the fracking industry fall apart. That and the second real estate bubble where banks are buying up houses on the cheap to convert to rental properties using the latest iteration od "credit default swaps" implodes.
And once again, the banks will be bailed out using tax payer money.
markpkessinger
(8,392 posts)olddots
(10,237 posts)Churning out dreck for human robots .......wow all is well
pampango
(24,692 posts)purchasing managers gauges. An index of Chinese manufacturing fell as mandatory plant shutdowns during the Asia-Pacific Economic Cooperation forum aggravated a pullback in the economy."