U.S. manufacturers contracted in December at the fastest pace in more than six years as factories cut jobs and new orders shrank. The Institute for Supply Management said Monday that its index of factory activity fell to 48.2 from 48.6 in November. Any reading under 50 signals contraction. The figures suggest that the troubles weighing…
Manufacturing in New York Shrinks for Fourth Month
Factory activity in New York state contracted for the fourth straight month in November, as a strong dollar and slow overseas growth continued to drag down manufacturers. The New York Federal Reserve’s Empire State manufacturing index, released Monday, edged up slightly to minus 10.7, from minus 11.4 in October. Still, any figure below zero indicates contraction. The…
U.S. Factories Grow at Slowest Pace in 2½ Years; Hiring Falls
U.S. factory activity grew last month at its slowest pace since May 2013 as manufacturers pared their stockpiles and cut jobs. The Institute for Supply Management said Monday that its index of factory activity slipped to 50.1 in October from 50.2 in September. The figures barely signal growth, which is any reading above 50. U.S.…
Manufacturing in New York Shrinks By Most Since 2009
Manufacturing activity in New York state contracted in August at the fastest pace since the Great Recession, pulled down by sharp declines in new orders and shipments. The Federal Reserve Bank of New York said Monday that its Empire State manufacturing index plunged to minus 14.9 from a positive reading of 3.9 in July. That…
U.S. Factory Output Rose 0.2% in January
U.S. factory production edged up last month as manufacturers cranked out more computers, clothing, steel and other metals, offsetting declines in autos and aerospace. The Federal Reserve said Wednesday that factory production increased 0.2 percent in January, after a flat reading in December. The data suggests manufacturing is still supporting economic growth, though is weaker…
Another Month of Solid Job Growth Is Expected for January
Steady economic growth and consumer spending likely led U.S. employers to hire at a healthy pace in January and extend last year’s solid job gains. Economists have forecast that the economy gained 230,000 jobs in January, according to a survey by FactSet. The unemployment rate is expected to stay at a six-year low of 5.6…