U.S. inflation rates are getting worse despite a decline in consumer demand and a strong labor market, which suggests that the American economy is currently facing stagflation. Manufacturing activity in the Philadelphia region for October, fell for the second consecutive month, despite rising inflationary pressures, reported the Federal Reserve Bank of Philadelphia on Oct. 20….
Inflation Worsening Despite Sagging Demand, Suggesting Stagflation: Philly Fed
October 20, 2022
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Can Any of These Countries Replace China as the Factory of the World?
October 17, 2022
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Commentary China is losing its influence; it’s in decline. At the same time, however, China, ruled by a despotic regime, is responsible for 28.7 percent of global manufacturing output (more than 10 percentage points ahead of its No. 1 rival, the United States). This utter dependence on China for manufacturing must be stopped. As I…
Think Tank Head Faces Backlash Over ‘Offensive’ Remarks About US Manufacturing Workers
Concerns over U.S. manufacturing employment is an obsession for keeping “white males with low education” in “powerful positions,” says Adam Posen, an economist and president of The Peterson Institute for International Economics, a Washington-based think tank. Speaking at a Cato Institute event on Thursday, Posen expressed his disapproval over the constant attention given to domestic…
UK Manufacturing Downturn Continues as New Orders Dwindle Amid Market Uncertainty
The UK’s manufacturing sector has been tipped into a third monthly contraction as new order intakes decline, an influential survey has found. The S&P Global/CIPS UK Manufacturing PMI scored 48.4 in September, a slight recovery from 47.3 in August, a 27-month low. Anything below 50 is considered to show that the sector is shrinking. Although…
Interest Rate Hikes Add to ‘Perfect Storm’ for Small Business
September 14, 2022
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News Analysis Small businesses are acutely affected by the Bank of Canada’s rapid interest rate increases, as they are carrying more debt than usual due to the pandemic in addition to numerous other challenges they face. “It’s like a perfect storm right now in so many ways,” Catherine Swift, president of the Coalition of Concerned…
Global Factory Activity Mixed in August, Signs Cost Pressures Easing
WASHINGTON/LONDON—U.S. manufacturing grew steadily in August but factory activity in China, the euro zone and Britain fell as Russia’s war in Ukraine and China’s zero COVID-19 curbs continued to hurt businesses, surveys showed on Thursday, although there were indications cost pressures were starting to ease. The overall weakness in global manufacturing activity added to signs…
Reshoring, Robotics, and Roller Disco
August 24, 2022
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Commentary In the 1970s, with America’s market opening to China engineered by those peerless (not) ethicists and strategists, Richard Nixon and Henry Kissinger, China became the “world’s factory” because many of America’s own factories moved there for the cheap and compliant workforce. Now folks are starting to realize—in part due to the pandemic, evidence of…
A Renaissance for ‘Made in America’?
August 7, 2022
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News Analysis It wasn’t long ago that Sherman, Texas, might have been best known as the birthplace of Buck Owens, the late country-and-western star, or as the home of Austin College, one of the state’s oldest colleges. More recently, though, the city of nearly 44,000 souls about 65 miles north of Dallas has had something…
US Manufacturing in July Declined Slowly, as Businesses Deal with Excessive Inventory
August 4, 2022
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U.S. manufacturing activity in July slowed for the second month, albeit less than had been expected, amid news that supply constraints were easing, according to a report by the Institute for Supply Management (ISM) released on Aug. 1. The post–pandemic glut in inventories and a growing trade deficit caused by global supply chains are key…
Drop in Demand Weighs on German Manufacturing, Outlook Darkens: PMI
BERLIN—A sharp fall in new orders weighed on German manufacturing activity in June, darkening the outlook for Europe’s largest economy, a survey showed on Friday. S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, fell to 52.0 in June from May’s final reading of 54.8, in…
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