Wall Street Hedge

Tuesday, January 19, 2021
Log in
  • Home
  • Nation & Politics
  • Financial News
  • Technology & Research
  • Lifestyle & Health
    • Latest News
      • Business
      • Nature
      • Science
      • World
      • VA Hospitals Are Still Under Investigation for Suspected Drug Thefts

US manufacturing sector grows at slowest pace since June

By Leave a Comment

manufacturing_1935157c

The factory activity in the United States grew at the slowest pace in the past six months in December as it was weakened by significant drops in productions as well as orders. Despite this the growth remained healthy, signaling improving manufacturing sector may help in accelerating the expansion process of the country’s economy in the New Year too as it did in 2014.

The Institute for Supply Management on Friday said that its manufacturing index declined to 55.5 in the month of December from November’s 58.7, which was just below a three-year high that was reached in October.

Institute for Supply Management is a trade group of purchasing managers. Notably, any reading above 50 signal towards expansion in the sector.

The reading recorded in December is the lowest since June last year. However, it is also close to the average for the overall year and continues to remain at a solid level.

According to the analysts, the demand for more cars and appliances are rising among the Americans and this is boosting demand for factory-made goods. On the other hand, the economists also made forecast of more spending on industrial equipment by the businesses this year. They believe this would also lift output.

A labor dispute at West Coast seaports, between San Diego and Seattle, has also obstructed the raw materials’ shipment for many manufacturers, according to the ISM survey. Analysts believe that this has also interrupted production and has probably contributed to the lower reading.

Undeterred by the decline, most of the economists are optimistic about the prospects of the country’s manufacturing sector in 2015.

Writing a note to his clients, RBS Securities economist Guy Berger said, “These were readings that in any ordinary time would be considered excellent.”

Another economist Paul Dales, from Capital Economics, said, “The strength of domestic demand will ensure that industry and the wider economy still perform particularly well in 2015.”

Meanwhile, the US manufacturers were found growing despite the struggling economies in the global context.

Share this:

  • Tweet
  • Share on Tumblr

Filed Under: Financial News Tagged With: Institute for Supply Management, US economy, US manufacturing index in December, US manufacturing sector

Leave a Reply Cancel reply

You must be logged in to post a comment.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 15 other subscribers

Recent Articles

AXA building in Wiesbaden, Germany.

Insurer AXA To Buy XL Group For $15 Billion

By Leave a Comment

New York Stock Exchange on Wall Street.

Wall Street Comes Out Intact As Global Stock Rise

By Leave a Comment

Ryanair profits are up despite threats of pilot strike.

Ryanair Profits Are Up But A New Pilot Strike May Be Around The Corner

By Leave a Comment

Bitcoin bubble may burst, analysts speculate.

Bitcoin Bubble Shows Signs Of Bursting

By Leave a Comment

One percent amassed 82 percent of the world's fortune last year.

82 Percent Of The World’s Wealth Went To The One Percent In 2017, According To Oxfam Report (Report)

By Leave a Comment

Morgan Stanley will be hit with a $1.25 billion charge as part of the new Republican tax cut.

Morgan Stanley To Be Hit With $1.25 Billion Charge From Republican Tax Reform

By Leave a Comment

General Electric Laboratory

High Demand For Renewable Forces General Electric To Slash 12 Thousand Jobs Worldwide

By Leave a Comment

Cryptocurrency bitcoin coins

Cryptocurrency Is Worth More Than JPMorgan, Bitcoin Raises Concerns

By Leave a Comment

Computer circuit board

Chipmaker Company, Marvell Technology, to Buy its Rival Cavium in $6 billion Deal

By Leave a Comment

Thanksgiving dinner

Thanksgiving Dinner Will Cost Less This Year as Food Gets Cheaper

By Leave a Comment

Doctors in surgery

Vermont Is Preparing New Health Care System

By Leave a Comment

Saudi Arabia’s capital city Riyadh

Saudi Arabia Has Just Bought Huge Stake in Uber

By Leave a Comment

No Agreement Yet on the Trans-Pacific Partnership

By Leave a Comment

Samsung Shareholders Approve Deal Which Sees Lee Family Gain More Control

By Leave a Comment

Related Articles

  • AXA building in Wiesbaden, Germany.

    Insurer AXA To Buy XL Group For $15 Billion

  • New York Stock Exchange on Wall Street.

    Wall Street Comes Out Intact As Global Stock Rise

  • Ryanair profits are up despite threats of pilot strike.

    Ryanair Profits Are Up But A New Pilot Strike May Be Around The Corner

  • Bitcoin bubble may burst, analysts speculate.

    Bitcoin Bubble Shows Signs Of Bursting

  • One percent amassed 82 percent of the world's fortune last year.

    82 Percent Of The World’s Wealth Went To The One Percent In 2017, According To Oxfam Report (Report)

  • Morgan Stanley will be hit with a $1.25 billion charge as part of the new Republican tax cut.

    Morgan Stanley To Be Hit With $1.25 Billion Charge From Republican Tax Reform

  • General Electric Laboratory

    High Demand For Renewable Forces General Electric To Slash 12 Thousand Jobs Worldwide

  • Cryptocurrency bitcoin coins

    Cryptocurrency Is Worth More Than JPMorgan, Bitcoin Raises Concerns

  • Computer circuit board

    Chipmaker Company, Marvell Technology, to Buy its Rival Cavium in $6 billion Deal

  • Thanksgiving dinner

    Thanksgiving Dinner Will Cost Less This Year as Food Gets Cheaper

Categories

  • Business
  • Entertainment
  • Financial News
  • Lifestyle & Health
  • Nation & Politics
  • National News
  • Nature
  • Science
  • Technology & Research
  • World

Copyright © 2021 WallStreetHedge.com

About · Privacy Policy · Terms of Use · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.