China’s effort to jump-start its economy by exporting a vast quantity of cheap manufactured products is running into unexpected resistance from the United States, European Union, and even developing nations such as Brazil and Mexico. All of these nations are concerned with market disruptions caused by a tidal wave of Chinese imports, as happened during the “China Shock” two decades ago.
After 16 months in contraction, the ISM manufacturing survey unexpectedly popped into positive territory.
Factory output is down from a year ago but mining—including oil and gas drilling—is up.
President Joe Biden’s State of the Union (SOTU) speech included a brief mention of China, but the language was carefully trimmed to avoid saying anything that might offend Beijing, beyond the most cursory mention of Taiwan.
“Firms are consequently investing in more staff and more equipment, laying the foundations of further production gains in the coming months to hopefully drive a stronger and more sustainable recovery of the manufacturing economy,” S&P Global’s economist said.
The manufacturing sector is hitting a note that’s been sorely missed in recent acts: the sound of recovery.
A new study has identified the cities across the U.S. that are most and least at risk of losing jobs to artificial intelligence. According to the report, residents of Providence, Rhode Island, and Hartford, Connecticut are most at risk of being replaced in the workforce by AI.
The business conditions index falls to the lowest level since the pandemic-stricken months of 2020.
The manufacturing sector continued to contract in December, a closely watched economic barometer from the Institute for Supply Management indicated on Wednesday.
Chinese censors on Wednesday quickly deleted an article in a maternity-related news service that leaked plummeting birth rate data for 2023, revealing China’s population crisis is even worse than the regime has previously admitted.
The N.Y. Fed’s “Empire State” manufacturing index sank to -14.5 in December, the lowest level in four months.
Core capital goods orders were down for the second straight month in October, a signal of weakening business confidence in the economy.
China’s manufacturing activity slowed again in November, casting a pall over what the state-run Global Times awkwardly dubbed “Xiconomics,” the economic agenda of dictator Xi Jinping.
Orders are down. Employment is soft. Production is falling.
It is increasingly clear that the manufacturing sector rebounded in September.
A Pennsylvania woman has been awarded $7.1 million in a lawsuit against Conagra Brands after she was badly injured when a can of the manufacturer’s commercial cooking spray ignited and set her aflame.
China’s manufacturing activity crashed in October, posting numbers far lower than the slight dip many outside observers expected.
The Empire State manufacturing index has turned extremely volatile during the Bidenflation era.
The Commerce Department’s monthly report on factory orders is the latest evidence that U.S. manufacturing has bottomed and may even be rebounding.
A much stronger than expected report adds to the evidence that manufacturing’s slump is in the rearview mirror.
The U.S. manufacturing sector’s worst days appear to be behind it.
While Senator Tim Scott declared from the Reagan Library that union demands for higher pay and shorter work weeks “will not stand,” Donald Trump told workers in Michigan that “we love being with you.”
The latest Federal Reserve regional manufacturing surveys provide growing evidence that the manufacturing sector is rebounding.
Factory activity picked up even as businesses say they are facing stiff wage pressures and a deteriorating business climate.
Manufacturing remains in contraction, although the pace of the decline has eased. Services came closer to the threshold indicating a decline in activity.
Toyota, one of the world’s leading automakers, recently had to suspend operations in 12 of its 14 Japan-based factories due to a massive IT failure, resulting in a daily production loss of approximately 13,000 cars. The problem? The carmaker ran out of hard drive space.
Excluding transportation, manufacturing orders grew by more than expected.
The Dallas Fed’s barometer of activity in the Texas manufacturing sector showed contraction for the 16th straight month.
Another sign that the economy is not cooling off despite Federal Reserve rate hikes.
The economic data we have seen so far for the third quarter is nothing short of sizzling.
On Friday’s “PBS NewsHour,” New York Times columnist David Brooks stated that Republicans have shifted their position on climate legislation in part because they’re more pro-manufacturing than they were before but they’ve taken an “extreme position” on the issue. Brooks
The Manufacturing Recession May Have Hit Bottom A few months ago, we were among the first to notice that the housing downturn appeared to have ended. Now it looks like manufacturing has hit its cyclical nadir. The purchasing managers’ surveys from
Single-family home construction continued to rebound and factory construction spending is still rising.
Remember, Goldilocks was sleeping soundly, with her belly full of “just right” porridge, until the bears came home.
Senior economist Luis Torres of the Federal Reserve Bank of Dallas noted on Tuesday that Mexico has replaced China as the top U.S. trading partner, racking up $263 billion in trade during the first four months of 2023. China had been the top American trading partner since 2014, when it displaced Canada.
Growth is slowing in services and manufacturing remains in a slump. Inflation is proving to be a “sticky” concern.
Taiwan-based tech giant Foxconn announced Monday its withdrawal from a $19.5 billion joint semiconductor manufacturing deal with Indian metal and energy company Vedanta.
The government of Taiwan announced on Wednesday that it will open a new representative office in the financial hub of Mumbai, establishing its third diplomatic office in India.
President Joe Biden is greenlighting South Korean and Taiwanese semiconductor manufacturers to continue expanding their operations in China thanks to exemptions rewarded to various companies by the administration.
The bones of the U.S. economy are looking good as we hurtle toward the warming months.
