Commentary China’s economy is in a serious and prolonged downward spiral. What better time for China to return to its Maoist roots? After all, China was the paragon of economic growth, technological innovation, and stability under former leader Mao Zedong, right? Nonetheless, the Chinese Communist Party’s (CCP) “new” economic and political policies are turning the…
US Manufacturing Grows Solidly But Inflation and Labor Crunch Take Toll
America’s manufacturing sector expanded in May, according to two separate sets of U.S. factory performance gauges, which diverged in the details but both showed hiring difficulties and inflationary pressures weighing on economic activity. One of the measures, the Institute for Supply Management’s (ISM) Manufacturing PMI, rose to 56.1 percent in May from 55.4 percent in…
Russian Manufacturing Activity Returns to Growth in May—PMI
Russian manufacturing activity expanded in May after three months of contraction and price pressures eased notably, but sanctions continued to dent client demand, a survey showed on Wednesday. The S&P Global Purchasing Managers’ Index (PMI) rose to 50.8 from 48.2 in the previous month, climbing above the 50.0 mark that separates expansion from contraction for…
UK Manufacturing Growth Hits 16-month Low in May: PMI
LONDON—British manufacturing activity expanded in May at the weakest rate since January 2021, as producers of consumer goods struggled against a worsening cost-of-living crunch, a survey showed on Wednesday. The final estimate of the S&P Global UK Manufacturing Purchasing Managers’ Index (PMI) fell to 54.6 in May from 55.8 in April, unchanged from a preliminary…
Australian Labor Party Commits to Manufacturing in Australia Again
May 15, 2022
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If elected to government on Saturday, May 21, the Australian centre-left Labor Party has promised to invest $1 billion (US$689.5 million) in advanced manufacturing to have Australia produce more of its own goods again. This investment intends to rebuild the nation’s industrial base, creating new capabilities and opportunities for innovation in transport, defence, resources, agricultural…
US Added 428,000 Jobs in April; FDA Limits Use of J&J’s COVID Vaccine | NTD Business
The latest jobs report: American employers hired nearly 430,000 more workers last month. What industries are doing the hiring? The FDA is limiting the use of Johnson and Johnson’s COVID-19 vaccine. What’s the reason for its latest setback? A massive fight breaks out in Shanghai between locals and authorities. Fiji seizes the yacht of a…
NYC Amazon Workers Vote Against Unionizing; Warren Buffett Reveals Big Investments | NTD Business
A win for online retail giant Amazon: workers in New York City voted against unionizing a second warehouse, dealing a blow to labor organizers. Billionaire Warren Buffett reveals his new investments. What are they, and why did he choose them? We ask a Berkshire expert. Former President Donald Trump’s Truth Social app is launching on a web browser…
US Manufacturing Sector Slows Further; Factory Workers Quitting
WASHINGTON—U.S. factory activity grew at its slowest pace in nearly two years in April amid a rise in workers quitting their jobs, and manufacturers are becoming more anxious about supply over the summer because of new COVID-19 lockdowns in China. The survey from the Institute for Supply Management (ISM) on Monday described manufacturing as remaining…
China’s ‘Zero-COVID’ Threatens Manufacturers and Global Supply
Just as the Russia-Ukraine war affects the world’s food and energy supply, China’s zero-COVID policy under the raging Omicron variant further threatens the global supply chain. Chinese officials announced that as of March 15, Omicron has spread to 28 provinces in China, and at least 385 cities have reported confirmed cases. Consequently, many cities are…
Australia Boosts Steel Manufacturing for Defence, Renewables
The Australian government is pouring millions of dollars into domestic steel production, which will be used across industries, ranging from armoured vehicles and patrol boats to wind turbines and large-scale solar installations. The $55.4 million (US$39.7 million) investment is part of the federal government’s $1.3 billion (US$930 million) Modern Manufacturing Initiative designed to support Australia’s…
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