U.S. Factory Growth at Strongest Level in 14 Years U.S. Factory Growth at Strongest Level in 14 Years – NTK Network

U.S. Factory Growth at Strongest Level in 14 Years

“Despite concerns over U.S. protectionist policies, manufacturing sentiment remains on a solid footing, supported in large part by firm domestic demand.”

By NTK Staff | 09.05.2018 @12:00pm
U.S. Factory Growth at Strongest Level in 14 Years

The Institute for Supply Management released a report on Tuesday that showed U.S. factory activity in August was at it’s the highest level in 14 years, smashing the expectations of many economists.

According to the report, the manufacturing index rose from 58.1 in July to 61.3 in August, which is the highest it’s been since May 2004.

The Wall Street Journal reported that “Tuesday’s release surprised analysts who had expected a slowdown in the industry in light of rising trade tensions.”

The economists that were surveyed by the Wall Street Journal “expected a 57.5 reading for August.”

The report also showed that “sales of factory-made products, or new orders, output and employment all grew at a faster pace in August.”

“Despite concerns over U.S. protectionist policies, manufacturing sentiment remains on a solid footing, supported in large part by firm domestic demand,” a U.S. economist at Barclays told the Wall Street Journal.

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