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The index of business activity in the US manufacturing sector has grown from a minimum over 2 years. The growth of the index in January came as a surprise to experts, the Institute for Supply Management (ISM) reports. In January, the index reached 56.6 points. Analysts had expected a rise to 54.2 points. December index was revised upwards - from 54.1 to 54.3 points. A decrease in the index to 50 points and below indicates a low business activity, a value above 50 points indicates its growth. ISM Manufacturing has kept the value above 50 points for several years. The ISM index, which tracks new US orders, rose to 58.2 points in January from 51.3 points in December. The value has risen to a maximum since 2014. The production index rose to 60.5 points from 54.1 points. This is the maximum growth in 8 years. The employment index fell from 56 points to 55.5 points. The price index dropped below 50 points for the first time in three years - to 49.6 points. In December, growth was recorded in 11 out of 18 production sectors, in January - in 14 sectors.
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 ...
China saw its factory gate data for June perform better than expected on Thursday morning. However, persistent deflation indicated that the impact from the COVID-19 pandemic still continues to linger. The data, released by the National Bureau ...
The dollar firmed against the Japanese yen on Wednesday ahead of the release of U.S. manufacturing data expected to show a recovery from the pandemic. The euro traded in a narrow range as traders waited for data on Germany’s manufacturing ...
For the first time since January, the services industry of China recorded its growth in May, signaling the start of economic recuperation from stagnation due to lockdown measures implemented amidst the outbreak of the coronavirus. However, ...
May had seen Japan’s manufacturing sector dropping at its most rapid pace since March 2009, a private sector poll showed on Monday. The sector's inactivity was due to a slump in demand brought by the novel coronavirus crisis. Japan Manufacturing ...
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