sunny.png
Saturday December 4th, 2021 5:27PM

US factory activity expands at fastest pace since 1983

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — U.S. manufacturers expanded in March at the fastest pace in 37 years, a sign of strengthening demand as the pandemic wanes and government emergency aid flows through the economy.

The Institute for Supply Management, a trade group of purchasing managers, said that its measure of factory activity jumped to 64.7 last month, from 60.8 the previous month. That's the highest since December 1983. Some of the gain may reflect a bounce-back from February, when harsh winter weather in Texas, Louisiana and other southern states knocked some oil refineries and petrochemical plants offline.

Measures of new orders, production, and hiring all jumped, and more companies reported optimistic outlooks about future business conditions. Many firms, however, also reported difficulties in keeping up with demand, as snarled supply chains have delayed the shipment of parts and many firms have struggled to hire enough new workers.

“Extended lead times, wide-scale shortages of critical basic materials, rising commodities prices and difficulties in transporting products are affecting all segments of the manufacturing economy,” said Timothy Fiore, chair of the ISM's manufacturing business survey committee.

Americans have shifted their spending during the pandemic, as most consumers have been reluctant or unable to eat out, shop, or visit movie theaters as often as in the past. Instead, they have spent more on factory goods, such as new cars, furniture for expanded home offices, and workout bikes.

Factories have steadily re-hired workers since last spring, but have still only recouped about two-thirds of the jobs lost to the pandemic.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Economy, AP Business - Industries, AP Business - Utilities
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
WHO: Europe's vaccination program is "unacceptably slow"
A senior World Health Organization official says immunization campaigns against COVID-19 across Europe “unacceptably slow” and risk prolonging the pandemic
10:56AM ( 10 minutes ago )
Plan to revamp police force proceeds in Ithaca, New York
Officials in an Ivy League town in upstate New York have voted to proceed with a hotly debated plan to revamp the police force as part of the nationwide reexamination of law enforcement after the killing of George Floyd
10:22AM ( 43 minutes ago )
Supreme Court gives Georgia win in water war with Florida
The Supreme Court has ruled unanimously for Georgia in its long-running dispute with Florida over water
10:21AM ( 44 minutes ago )
Associated Press (AP)
Groups rush to get Florida farmworkers vaccinated
Farmworker advocates are racing against time to get vaccinations for migrant workers newly eligible for the jab as Florida lowers its age limits, so  they can be inoculated before they travel north to harvest crops in other regions
10:09AM ( 56 minutes ago )
Safety last: Risky investments soared at start of 2021
Risky stocks seen as nearly untouchable a year ago burst to the market’s best performances during the first three months of 2021, headlining a fourth straight quarter of gains for the S&P 500
10:08AM ( 57 minutes ago )
After hack, officials draw attention to supply chain threats
The U.S. government is working to draw attention to supply chain vulnerabilities
10:03AM ( 1 hour ago )
AP Business
Biden launches community corps to boost COVID vaccinations
The Biden administration is unveiling a coalition of community, religious and celebrity partners to promote COVID-19 shots as it seeks to overcome vaccine hesitancy
6:00AM ( 5 hours ago )
Under pressure, some Ga. corporate leaders slam voting bill
Some of Georgia’s most prominent corporate leaders are beginning to more forcefully criticize the state’s sweeping new election law
12:30AM ( 10 hours ago )
Biden announces huge infrastructure plan to 'win the future'
President Joe Biden has outlined a huge $2.3 trillion plan to reengineer the nation’s infrastructure over the next eight years
10:59PM ( 12 hours ago )
AP Business - Corporate News
India fights virus surge, steps up jabs amid export row
India is accelerating its vaccination drive by opening it up for everyone above 45 years just as cases spike sharply after several months
5:10AM ( 5 hours ago )
Global stocks follow Wall St up on strong Japan, Korea data
Global stock markets have followed Wall Street higher after Japan and South Korea reported unexpectedly strong economic data and President Joe Biden announced a $2.3 trillion infrastructure spending plan
4:34AM ( 6 hours ago )
Asian stocks follow Wall St. up on strong Japan, Korea data
Asian stock markets have followed Wall Street higher after Japan and South Korea reported unexpectedly strong economic data and President Joe Biden announced a $2.3 trillion infrastructure spending plan
2:30AM ( 8 hours ago )
AP Business - Economy
The Latest: German health chief says he'd take AstraZeneca
Germany’s health minister says he personally would be prepared “without hesitation” to get the AstraZeneca vaccine, but it isn’t his turn yet
5:05AM ( 6 hours ago )
The Latest: Pakistan takes delivery of 1st vaccine purchase
Pakistan’s minister for planning and development says his country is importing 1 million doses of the Sinopharm vaccine from China, the first purchase that comes after initial donations
4:18AM ( 6 hours ago )
The Latest: South Korea mulls rapid tests for home use
South Korea is reviewing whether to approve rapid coronavirus tests that can be taken at home and produce near-immediate results as another tool to fight the pandemic
4:04AM ( 7 hours ago )
AP Business - Industries
Big Tech leads gains as Wall Street opens broadly higher
Stocks are opening higher on Wall Street led by gains in Big Tech companies
9:42AM ( 1 day ago )
Hunter Biden says he wouldn't repeat work for Ukrainian firm
President Joe Biden's son Hunter says his service on the board of a Ukrainian gas company wasn't unethical and didn't amount to a lack of judgment on his part
6:42AM ( 1 day ago )
GOP lawmakers take aim at Arizona renewable energy standards
As states across the U.S. West beef up their renewable energy mandates, a push to do so in Arizona has been met by fierce resistance from the Republican governor and GOP-dominated Legislature
12:27PM ( 1 day ago )
AP Business - Utilities
WHO: Europe's vaccination program is "unacceptably slow"
A senior World Health Organization official says immunization campaigns against COVID-19 across Europe “unacceptably slow” and risk prolonging the pandemic
10:56AM ( 10 minutes ago )
Plan to revamp police force proceeds in Ithaca, New York
Officials in an Ivy League town in upstate New York have voted to proceed with a hotly debated plan to revamp the police force as part of the nationwide reexamination of law enforcement after the killing of George Floyd
10:22AM ( 43 minutes ago )
Supreme Court gives Georgia win in water war with Florida
The Supreme Court has ruled unanimously for Georgia in its long-running dispute with Florida over water
10:21AM ( 44 minutes ago )
Saudi minister urges caution on oil production levels
The oil cartel OPEC and allied countries are meeting to decide production levels that could have an impact on gas prices at the pump
10:21AM ( 45 minutes ago )
Groups rush to get Florida farmworkers vaccinated
Farmworker advocates are racing against time to get vaccinations for migrant workers newly eligible for the jab as Florida lowers its age limits, so  they can be inoculated before they travel north to harvest crops in other regions
10:09AM ( 57 minutes ago )