American Factories “Power Up”

by Laura Ehrenberg-Chesler on July 5, 2017

in Economic Indicators,Employment,manufacturing,taxes

American factories powered up in June at their fastest pace in nearly three years according to Bloomberg.
The following are the highlights from Monday’s Institute of Supply Management report:

1. Factory index rose to 57.8, highest since August 2014 (est. 55.3) from 54.9 in May; readings above 50 indicate growth
2. ISM’s gauge of new orders increased to three-month high of 63.5 from 59.5
3. Measure of production picked up, while employment gauge climbed to the second-highest level since 2011

In our quarterly letter we reference the fact that business optimism is high in the improved business environment of less regulation, and the promise of tax reform. The above hard data prove the optimism is well founded.

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