U.S. Manufacturing Expands Again in July - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

U.S. Manufacturing Expands Again in July

Updated:

WASHINGTON (AP)- U.S. manufacturing expanded for the 14th straight month in July in a good sign for the overall economy.

The Institute for Supply Management, a trade group of purchasing managers, reported Friday that its manufacturing index rose to 57.1, highest level since April 2011 and up from 55.3 in June.

Anything above 50 signals that manufacturing is growing.

Paul Dales, senior U.S. economist at Capital Economics, wrote in a research note that the index was consistent with overall economic growth of 3.5 percent.

The U.S. economy already has been showing renewed strength. Economic growth clocked in an impressive 4 percent annual pace from April through June after getting off to a bad start the first three months of the year. And the Labor Department said Friday that employers added more than 200,000 jobs in July for the sixth straight month. Factories created 28,000 jobs in July, most since November. Over the past year, manufacturers have added 178,000 jobs, best 12-month stretch of hiring since November 2012.

Dales wrote that the ISM report "suggests that manufacturing payrolls may soon start to rise by close to 50,000 a month rather than July's 28,000."

American factories have been busy. The Commerce Department reported last week that orders for durable goods rose 0.7 percent in June, and a category seen as a proxy for business investment plans rose a healthy 1.4 percent.

The ISM reported that new orders, production and employment at factories rose. Exports declined last month. Seventeen of 18 industries covered by the survey showed growth last month. Only wood products contracted.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Hogan Campaign Reports Raising More Than $1.2M in 35 Days

    Hogan Campaign Reports Raising More Than $1.2M in 35 Days

    May 23, 2018 8:46 AM2018-05-23 12:46:00 GMT
    Wednesday, May 23 2018 8:47 AM EDT2018-05-23 12:47:42 GMT
    Maryland Gov. Larry Hogan (Photo credit: Larry Hogan Facebook page)Maryland Gov. Larry Hogan (Photo credit: Larry Hogan Facebook page)
    Maryland Gov. Larry Hogan (Photo credit: Larry Hogan Facebook page)Maryland Gov. Larry Hogan (Photo credit: Larry Hogan Facebook page)
    Maryland Gov. Larry Hogan's re-election campaign flashed robust campaign fundraising results Tuesday before a midnight filing deadline.More
    Maryland Gov. Larry Hogan's re-election campaign flashed robust campaign fundraising results Tuesday before a midnight filing deadline.           More
  • Virginia Governor Wants Strategic Plan to Boost Offshore Wind

    Virginia Governor Wants Strategic plan to Boost Offshore Wind

    May 23, 2018 8:36 AM2018-05-23 12:36:00 GMT
    Wednesday, May 23 2018 8:47 AM EDT2018-05-23 12:47:29 GMT
    Virginia Gov. Ralph Northam's administration says it is looking for advice on how to make the state more attractive to offshore wind power.More
    Virginia Gov. Ralph Northam's administration says it is looking for advice on how to make the state more attractive to offshore wind power.           More
  • Trayvon Martin's Parents Say Weinstein's Company Owes Them $150,000

    Trayvon's Parents Say Weinstein's Company Owes Them $150,000

    May 23, 2018 7:28 AM2018-05-23 11:28:00 GMT
    Wednesday, May 23 2018 7:58 AM EDT2018-05-23 11:58:51 GMT
    Trayvon Martin's parents Tracy Martin, left, and Sybrina Fulton attend the Tribeca TV screening of "Rest in Power: The Trayvon Martin Story" at BMCC Tribeca PAC, during the 2018 Tribeca Film Festival on Friday, April 20, 2018, in New York. (Photo: AP)Trayvon Martin's parents Tracy Martin, left, and Sybrina Fulton attend the Tribeca TV screening of "Rest in Power: The Trayvon Martin Story" at BMCC Tribeca PAC, during the 2018 Tribeca Film Festival on Friday, April 20, 2018, in New York. (Photo: AP)
    Trayvon Martin's parents Tracy Martin, left, and Sybrina Fulton attend the Tribeca TV screening of "Rest in Power: The Trayvon Martin Story" at BMCC Tribeca PAC, during the 2018 Tribeca Film Festival on Friday, April 20, 2018, in New York. (Photo: AP)Trayvon Martin's parents Tracy Martin, left, and Sybrina Fulton attend the Tribeca TV screening of "Rest in Power: The Trayvon Martin Story" at BMCC Tribeca PAC, during the 2018 Tribeca Film Festival on Friday, April 20, 2018, in New York. (Photo: AP)
    Slain Florida teen Trayvon Martin's parents filed court papers in federal bankruptcy court in Delaware claiming The Weinstein Co. owes them at least $150,000 for optioning the rights to their book in order to make a yet unaired TV series about their son.More
    Slain Florida teen Trayvon Martin's parents filed court papers in federal bankruptcy court in Delaware claiming The Weinstein Co. owes them at least $150,000 for optioning the rights to their book in order to make a yet unaired TV series about their son.More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices