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Wed Sep 1, 2021, 09:45 AM

Growth in US manufacturing accelerated in August

Source: AP

By MARTIN CRUTSINGER

WASHINGTON (AP) Growth in U.S. manufacturing accelerated in August despite the fact that companies were still struggling with supply chain problems.

The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its index of manufacturing activity rose 0.4 percentage point in August to 59.9. Manufacturing had seen a slowdown in July when activity dipped to 59.5 from 60.6 in June.

Any reading above 50 indicates growth in the manufacturing sector. August marked the 15th consecutive month that manufacturing has grown after contracting in April 2020 when the coronavirus pandemic triggered nationwide business shutdowns.

Read more: https://apnews.com/article/business-health-coronavirus-pandemic-60fb36a6d1134ec0c9d4799c65d05a89

6 replies, 862 views

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Arrow 6 replies Author Time Post
Reply Growth in US manufacturing accelerated in August (Original post)
Omaha Steve Sep 2021 OP
bucolic_frolic Sep 2021 #1
pwb Sep 2021 #2
NewJeffCT Sep 2021 #3
Jimbo S Sep 2021 #4
DeeNice Sep 2021 #5
Calista241 Sep 2021 #6

Response to Omaha Steve (Original post)

Wed Sep 1, 2021, 10:32 AM

1. Panic buying, stimulus loans and payments

Everybody planned like they'd never be able to find their goodies again. While some scarce items remain in short supply, other items will return to normal supply situation. I expect things to level off, based on what I've seen and heard from mainstream and alternative financial press and sources.

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Response to Omaha Steve (Original post)

Wed Sep 1, 2021, 10:49 AM

2. Selling their goods and services is much better than tax cuts.

Business is finding that out. Pay people more and they will buy. Business wants all the customers it can get.

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Response to Omaha Steve (Original post)

Wed Sep 1, 2021, 11:25 AM

3. Great news - before covid, US manufacturing

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Response to NewJeffCT (Reply #3)

Thu Sep 2, 2021, 09:43 AM

4. This

I'm an engineer (manufacturing sector). Cold calls from people look to hire dried up in the fall 2019. Lately, they're starting to come back.

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Response to NewJeffCT (Reply #3)

Thu Sep 2, 2021, 12:39 PM

5. truth.

I'm in accounting in automotive Tier 2 manufacturing and I can tell you the whole supply chain went into panic the second TFG uttered the word tariff. And then came the cash crunch when raw material prices started to increase, which still hasn't relented.

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Response to DeeNice (Reply #5)

Thu Sep 2, 2021, 12:47 PM

6. All those tariffs are still there.

In addition, as US manufacturing improves:

China's economy under pressure as factory activity slows in Aug, services contract
https://www.reuters.com/world/china/chinas-factory-activity-expands-slower-pace-august-official-pmi-2021-08-31/

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