Manufacturing made up 11% of gross domestic product in the second quarter, the smallest share in data going back to 1947 and down from 11.1% in the prior period, a Commerce Department report showed Tuesday. Figures before 2005 were for full years only.
Yesterday, it was revealed that Tesla intended to stop Model 3 production for up to five days. The reason given was to improve automation. However, a letter sent by Elon Musk to employees reveals the real reason for the pause in production: Tesla is upgrading the plant for round the clock production from next week.
Orders placed with U.S. factories for business equipment declined for a second straight month and shipments matched the biggest drop since 2016, the latest sign the dimmer global growth outlook and trade tensions with China are weighing on companies.
The civil construction equipment industry—which builds the backends of trucks that clean sewers, excavators for asphalt rock and equipment to bury 5G fiber-optic cable—is feeling none of the economic gloom that besets manufacturing.
U.S. Steel Corp. said it expects to report a wider loss than analysts were expecting, the third American steelmaker in three days to warn on their outlook. The shares fell. The Pittsburgh-based company cited weakening markets for flat-rolled steel and tubular products for the energy industry.
A key U.S. factory gauge unexpectedly contracted for the first time since 2016, sending stocks and bond yields lower and boosting expectations for interest-rate cuts as global manufacturing woes deepen. The Institute for Supply Management’s purchasing managers index fell to 49.1 in August, weaker than all forecasts in a Bloomberg survey of economists, data released […]
Federal policy is reducing demand for ethanol which will ultimately hurt farmers, said Jeff Zueger, CEO of Midwest AgEnergy, which owns and operates Dakota Spirit AgEnergy. “It is an industry-wide problem that can affect the local farmer,” Zueger said. “It is becoming more and more of a problem.” Dakota Spirit AgEnergy is an ethanol plant […]
U.S. industrial production was flat in June, as a slump in utilities was offset by gains in output by factories and mining. The Federal Reserve said Tuesday that manufacturing production increased 0.4% last month, aided by a nearly 3% surge at auto plants. Still, factory output has been weak over the past 12 months, posting […]
April 2019 U.S. cutting tool consumption totaled $206.3 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 1.9 percent from March’s $210.4 million and up 1.3 percent when compared with […]
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