U.S. Economy: Manufacturing Steadies as Stimulus Boosts Demand
By Courtney Schlisserman
Aug. 3 (Bloomberg) — Manufacturing in the U.S. shrank less than forecast as stimulus-induced gains in demand worldwide helped resuscitate factories from the worst slump in three decades.
The Institute for Supply Management’s factory gauge rose to an 11-month high of 48.9 in July, according to the Tempe, Arizona, group. Readings below 50 signal contraction. A report from the Commerce Department showed June building projects climbed 0.3 percent, helped by higher public spending.
Factory gauges around the world showed advances for July, indicating government programs from Washington to Beijing aimed at reviving demand are starting to take hold. Stocks climbed, while Treasury securities and the dollar sank, as investor demand for riskier assets increased.
Similar Posts:
- U.S. Economy: Retail Sales Rebound From Year’s Biggest Drop
- Construction spending rises unexpectedly
- U.S. Economy: Trade Gap Widens More Than Anticipated on Imports
- Manufacturing, banking reports lift stocks
- A Must Read; Krugman says world avoided second Great Depression
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment