Related News
US industrial output climbs strong 0.9% in October
Print Edition
US industrial production jumped a solid 0.9 percent in October as factory activity recovered from the impact of Hurricanes Harvey and Irma.
The Federal Reserve said yesterday that manufacturing activity surged 1.3 percent last month. Many of the gains came from a sharp increase in the production of chemical and petroleum and coal products. Motor vehicles and metals also posted decent gains. But factories are also benefiting from favorable conditions around the world.
“The pick-up in global growth and the weaker dollar have triggered a broader turnaround in the prospects for the manufacturing sector,” said Paul Ashworth, chief US economist at Capital Economics.
Mining activity fell 1.3 percent in October as Hurricane Nate caused a brief decline in oil and gas drilling. Production at utilities rose 2 percent.
Over the past year, industrial production has increased 2.9 percent.
The Fed report is among the many indicators that factories are roaring back in recent months.
Over the past year, manufacturers have added 156,000 jobs. That’s the strongest annual growth since the middle of 2015.
Manufacturing hit a rough patch roughly two years ago when a strengthening dollar hurt exports and falling energy prices led to fewer orders for pipeline and equipment. But manufacturing has been steadily rebounding this year amid a stronger global economy.
The Institute for Supply Management, a trade group of purchasing managers, said recently that its manufacturing index dipped to 58.7 in October from a 13-year high 60.8 in September. Anything above 50 signals that factories are expanding. Manufacturers have seen growth for the past 14 months.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
