November 4, 2016
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.
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