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In April, US factories slowed their activity for the second month in a row amid rising raw material prices due to the application of duties on imports of steel and aluminum, Reuters reported. According to the survey of the Institute for Supply Management, along with import duties, bottleneck in the supply chain is also a shortage of skilled workers. The activity index of ISM factories in April fell to 57.3 points from 59.3 points a month earlier. The price index rose by 1.2% to the highest since April 2011 at 79.3 points. At the same time, production in the US is supported by a stable global economic growth and a weak dollar, which strengthens the competitiveness of American goods in the world market.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
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