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U.S. Manufacturing is Expanding, Move With Caution
The Institute for Supply Management (ISM) issued a report this week that indicates growth for the U.S. manufacturing sector. With a reading of 51.9 percent last month, it is considered to be under expansion (as defined by any reading over 50). The manufacturing sector accounts for 12% of the overall economy in the country.
After the dollar surged in June 2015, manufacturing faced a slump because of constrained exports. However, this new data suggests that the tides are turning favorably, compounded by a 3.2 percentage point jump in factory employment.
Although the sector is growing, many experts are less than optimistic on the size of growth, warning that construction spending is slipping.
For comments, questions or concerns, please contact Daniella Soloway
- ◦Economy
- ◦Development
