Thursday, 21 November, 2019

US Factory-Sector Activity Hits Six-Year High

Bill Pugliano  Getty Images Bill Pugliano Getty Images
Debra Rodriguez | 02 September, 2017, 01:13

Manufacturing expanded at a faster rate in August, helped by employment gains, the Institute for Supply Management said in a monthly report.

August's index reading registered 58.8, up from July's reading of 56.3. The total is the percentage who reported growth, so a reading above 50 indicates expansion.

New orders were also better than expected, with the index coming in at 60.3 versus the consensus estimate of 60.0, but softening very slightly from the previous month's 60.4. The August PMI was the highest since April 2011.

Rs 1000 note to make a comeback in new avatar
Finance Minister Arun Jaitley on Wednesday said that the volume of cash in circulation had dropped by 17%, as per the RBI report. After the note ban, old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.

The reading exceeded economist expectations and suggests stronger global growth, a soft dollar, a booming stock market and rising consumer and business confidence are boosting American manufacturers. However, at 4.8, it continues to be supportive of future growth, albeit slower, in the sector, stated TD Economics in a research report. Nine of the ten index components grew, while the customers' inventories index contracted for the second consecutive month.

The closely-watched ISM purchasing managers survey showed all six of the "big six" industries - representing 70 per cent of manufacturing GDP - accelerating activity last month. It may not be the largest share of the United States economy, but the manufacturing sector is on fire.

While the price index was flat, it remains at a high level with all but two industries reporting paying increased prices for raw materials last month. Eleven industries reported higher inventories, while five reported a decrease.

Recommended

  • Former Villanova Basketball Coach Rollie Massimino Dies at Age 82

    Former Villanova Basketball Coach Rollie Massimino Dies at Age 82

    Villanova posted 10 seasons of 20 victories or more in Massimino's tenure and he was the 1982 BIG EAST Coach of the Year. Each of the players recruited to Villanova by Massimino who spent four years in the program earned his degree.
    Union Cabinet approves ordinance making luxury cars, SUVs more expensive

    Union Cabinet approves ordinance making luxury cars, SUVs more expensive

    The Council which is headed by Finance Minister along with other finance ministers of the states has chose to hike the cess. He said out of the total amount of the GST collected, the Centre got Rs 444 crore through various cesses .
    Pet shelters, welfare groups step up to meet Harvey's threat

    Pet shelters, welfare groups step up to meet Harvey's threat

    They said about 50 other volunteers are already waiting on standby. "As you can imagine, it's a rapidly changing situation". In addition to cash donations, the organization can also use in-kind donations like large plastic or metal bins with lids.
  • Celtics, Cavaliers reach agreement on Kyrie Irving, Isaiah Thomas trade

    Celtics, Cavaliers reach agreement on Kyrie Irving, Isaiah Thomas trade

    Celtics General Manager, Danny Ainge had seen talents like Paul George , Jimmy Butler and Chris Paul pass on by to other teams. So who won the trade? Irving is exactly the type of player the Celtics need, a proven playoff performer and a victor .
    Crude Oil Extends Monthly Low Ahead Of Inventories

    Crude Oil Extends Monthly Low Ahead Of Inventories

    It would've been a much bigger issue a decade ago, when the Gulf accounted for almost 30% of the nation's oil production. Low oil prices made it more profitable for refiners to turn oil into gasoline, and they created even more than needed.
    Biebs' testicles at centre of new lawsuit

    Biebs' testicles at centre of new lawsuit

    A month later, hospital honchos summoned Lombardo , accused her of peeking at private records, and eventually fired her. An examination showed that Bieber's testicles were fine. 'They targeted her because of her gender, ' Rosenberg said.
  • Thomas Lemar Breaks Silence After Failed Arsenal Move

    Thomas Lemar Breaks Silence After Failed Arsenal Move

    Wenger declared a deal for Lemar "dead" earlier this month . "I was focused on my game, that's all that mattered to me". Lemar scored twice for France in their 4-0 thrashing of Holland in a 2018 World Cup qualifier on Thursday night.
    British PM says China should increase pressure on North Korea

    British PM says China should increase pressure on North Korea

    Japanese officials have already played down the chances of Tokyo coming forward with any assurances on a trade deal with the U.K. He said May's hosts had grave doubts about Brexit: "The Japanese simply don't understand why we're doing this".
    Expect a new Grand Slam champion at the US Open

    Expect a new Grand Slam champion at the US Open

    Against Sharapova , she took a set and change to steady herself mentally but charged back in the middle of the second set. Halep connected on 67 percent of her first serves, but not enough of them were effective enough to frustrate Sharapova .
  • Oval cricket ground evacuated after 'metal-tipper arrow' found on pitch

    Oval cricket ground evacuated after 'metal-tipper arrow' found on pitch

    The police arrived very swiftly and the umpires did a very good job in removing the players from the pitch very, very quickly. A police spokesman added: "At this stage, the incident is not being treated as terrorism-related".
    Mueller reportedly working with top Trump foe, could end-run presidential pardon

    Mueller reportedly working with top Trump foe, could end-run presidential pardon

    The sources told NBC News that prosecutors want to know what Trump knew about the meeting and whether he sought to hide its goal . The president has repeatedly called it a "witch hunt", has denied any collusion with Moscow and has been critical of Mueller.
    Is new CEO Dara Khosrowshahi's taking over signalling changes at Uber?

    Is new CEO Dara Khosrowshahi's taking over signalling changes at Uber?

    However, it was Khosrowshahi, the consensus candidate, who received unanimous votes during a board meeting on Sunday . The hiring of Khosrowshahi comes as Uber is hoping to move past a 2017 that has shellacked the company.

UK Markit August mftg PMI SA 56.9 vs 55.0 exp UK Markit August mftg PMI SA 56.9 vs 55.0 exp The FTSE 100 was marginally higher at the start of the new month, and in midmorning trading stood at 7428. Sustained growth in new orders led firms to expand their production schedules again in August.

Trump blasts Comey's exoneration of Clinton as part of a 'rigged system' Trump blasts Comey's exoneration of Clinton as part of a 'rigged system' Comey's announcement, saying they've reviewed partially redacted interview transcripts that indicate Mr. The letter blasted Comey for the premature drafting of the letter before the investigation concluded.

Ox to Liverpool and Sterling for Sanchez? Neville 'sad' at Arsenal plight Ox to Liverpool and Sterling for Sanchez? Neville 'sad' at Arsenal plight "Not only have we lost a great player we've lost a great guy in the changing room and It is sad to see you go mate". Per the source, Sanchez who has under 12 months left on his contract - is demanding a £400,000-a-week contract deal.

Ogun Hajj Board Denies Death Of Pilgrims Ogun Hajj Board Denies Death Of Pilgrims Confirming this development, the Commissioner in Charge of health, National Hajj Commission of Nigeria, NAHCON, Dr. On Friday, they will move on to Mina before sunrise for the hajj ritual of the symbolic "Stoning of the Devil".

Thomas Lemar STARTS for France against Holland in World Cup qualifier Thomas Lemar STARTS for France against Holland in World Cup qualifier Liverpool and Arsenal have been heavily linked with French global and Monaco star Thomas Lemar and the transfer saga has taken another twist.

Which Analysts Are Watching Rice Midstream Partners LP (NYSE:RMP)? Which Analysts Are Watching Rice Midstream Partners LP (NYSE:RMP)? The pipeline company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. New York-based Neuberger Berman Group Ltd Com has invested 0.03% in Magellan Midstream Partners, L.P. (NYSE:MMP). (NYSE:GES).

Texas Oil Industry Sees Production, Permit Gains Texas Oil Industry Sees Production, Permit Gains US crude futures settled 98 cents lower at $47.43 a barrel and Brent crude ended down 53 cents a barrel, or 1 percent, at $52.04. Sharara recently reached output of 280,000 barrels per day (bpd), but closed earlier this week due to a pipeline blockade.

Roger Federer v Frances Tiafoe - player profiles Roger Federer v Frances Tiafoe - player profiles I didn't think it was that bad and when the crowd got into it it was really cool. Babos took the opening set 7-6 (4). Time to play catch-up at the U.S.

Mattis 'Freezes' Trump's Transgender Military Ban The study estimated that a few to several thousand transgender troops are on the active duty force of 1.3 million. Some congressional offices and think tanks have conducted their own studies on the issue.

United Kingdom not dealing with border issue, claims EU Commission boss United Kingdom  not dealing with border issue, claims EU Commission boss The EU will not negotiate trade before a financial settlement, EU citizen's rights, and the Irish border issues are settled. The criticism contradicted Theresa May's claims that it was the United Kingdom providing clarity on Brexit .

Total's Port Arthur, Texas, refinery expects water to recede by weekend Total's Port Arthur, Texas, refinery expects water to recede by weekend Neither the Bob Bowers Civic Center nor the Carl Parker Center could be reached by phone in time for this report's publication. The National Hurricane Center described the flooding in southeastern Texas as "catastrophic" and "life-threatening".

Liverpool agree £40m fee with Arsenal for Oxlade-Chamberlain Liverpool agree £40m fee with Arsenal for Oxlade-Chamberlain Arsenal had agreed a £40m deal with the Blues and Liverpool have matched that offer, according to the BBC . Liverpool have opened talks with Arsenal over a deal for midfielder Alex Oxlade-Chamberlain.

Historic FDA Approval Makes First Gene Therapy Available in US Historic FDA Approval Makes First Gene Therapy Available in US The treatment reprograms a patient's T cells to carry a "chimeric antigen receptor" that targets cancer cells. Auto directs the T cells to target and attack leukemia cells that have CD19 on the surface.

Cummins unveils next-gen diesel engines and electric truck Cummins unveils next-gen diesel engines and electric truck It is capable of hauling up to 44,000 pounds of cargo, but even with the 140-kWh battery pack, it has a 100-mile range. That's one of the reasons why Tesla is already committed to entering the commercial vehicle space.

Princes William and Harry visit Diana memorial garden Princes William and Harry visit Diana memorial garden As the rain came steadily down, they looked at the flowers and posters on the palace gates as a small crowd watched silently... The White Garden now marks the fourth memorial in London that has been dedicated to The People's Princess .