More Proof That American Manufacturing Is Making A Comeback
New orders for U.S.-made goods increased for a second straight month in January, suggesting the manufacturing sector recovery was gaining momentum as rising prices for commodities spur demand for machinery.
Factory goods orders rose 1.2 percent, the Commerce Department said on Monday after an unrevised 1.3 percent jump in December. Economists polled by Reuters had forecast factory orders advancing 1.0 percent in January.
Factory orders were up 5.5 percent from a year ago. Total shipments of manufactured goods increased 0.2 percent after surging 2.5 percent in December.
Manufacturing, which accounts for about 12 percent of the U.S. economy, is regaining its footing after being buffeted by lower oil prices, a strong dollar and an inventory overhang.
The nascent recovery was underscored by a survey last week showing a gauge of national factory activity jumped to a 2-1/2-year high in February.
The Commerce Department also said orders for non-defense capital goods excluding aircraft – seen as a measure of business confidence and spending plans – slipped 0.1 percent in January instead of the 0.4 percent drop reported last month.
Shipments of these so-called core capital goods, which are used to calculate business equipment spending in the gross domestic product report, fell 0.4 percent in January. They were previously reported to have declined 0.6 percent.
The weakness in shipments points to continued sluggish growth in business spending on equipment, which increased at a 1.9 percent annualized rate in the fourth quarter. That was the first rise in over a year.
In January, orders for transportation equipment accelerated 6.2 percent, reflecting a 62.2 percent surge in defense aircraft orders. There was also a 69.8 percent jump in orders for civilian aircraft. Outside transportation, orders for machinery increased 0.9 percent.
Orders for computers and electronic products fell 1.9 percent and bookings for electrical equipment, appliances and components declined 2.6 percent. Orders for fabricated metal product rose 2.3 percent.
Source: Reuters
I purchased a pair on New Balance sneakers hoping they were made in the USA they were not.
My name is Sondra Jones. I’m not a MAM member or a Patriotic Supporter. I’ve been on the sidelines and following the Movement for 4 years now. I actually got interested when Diane Sawyer and David Muir brought the Movement into the spotlight on the ABC television network.This past Christmas holiday the Parade Magazine compiled a list of Made in America products and gifts from all 50 states which they featured on Sunday, December 4, 2016. I’m sure you are aware of that all 50 states have products made right in their perspective state.All the states need to get the word out about their Made in America products.It’s not enough to have the Made in America logo or statement on the product or products.It needs to be on a grander scale and be able to get to the masses.I would like to think that there are many many products made here in America that we are not aware of.I would love to find them.I hope there are others out here that feel the same way I do.