US manufacturing grows at fastest pace in 3 1/2 years

SFGate ^ | 09/02/2014 | By CHRISTOPHER S. RUGABER

[SeekAndFind]

WASHINGTON (AP) — U.S. manufacturing grew in August at the strongest pace in more than three years as factories cranked out more goods and new orders rose.

The Institute for Supply Management's manufacturing index rose to 59 from 57.1 in July, the ISM said Tuesday. That was the highest reading since March 2011. Any measure above 50 signals that manufacturing is growing.

Tuesday's ISM report coincides with other signs that manufacturing is helping drive the U.S. economy's improvement. Factories are benefiting from strong demand for aircraft, furniture, and steel and other metals. The boost from manufacturing has helped offset slower homebuilding, a slowdown in consumer purchases and weaker spending on utilities and other services.

"The U.S. economy is on a notably firmer growth track this summer, even if consumers are riding in the caboose," Sal Guatieri, an economist at BMO Capital Markets, wrote in a research note.

The ISM's gauge of production rose to the highest level in four years, and a measure of new orders reached its highest point in 10 years. That suggests that the sector should grow further in coming months. Factories also added jobs last month, though at

[Mark]

This administration can manufacture lies fairly quickly.

[familyop]

America no longer trusts publications by the likes of purchasing managers and investors. There’s a problem with anthropomorphic scarcity—a problem that will be solved by non-administrative people.

“Anthropomorphic” scarcity. Heh.

;-b

[mrsmith]

Well, the report that is the subject of the article is ALL bad news except for the manufacturing jump.
And the article implies that is caused by an anomalous aircraft order.

The headline does seem sarcastic...

[familyop]

"I believe that the government counts hamburger flipping as manufacturing."

Or American-"based" manufacturing that happens elsewhere.

Whether or not, though, there's a problem caused by the locking down of information, imposed scarcities of materials and by local regulations that make owner building and small scale manufacturing overly expensive and troublesome in other ways.

In other words, our current business-government paradigm is in some ways like that of the Soviet Union, and no one can see it but those of us capable of doing residential building and/or small scale manufacturing with our own hands. And you know that we're not in demand in the so-called free market, as it currently is (not so free).

We're working on solving the problem with new designs and methods of making useful things. But doing it by ourselves, it's going to take a long time.

[tinyowl]

If only briefly, even a farting turtle can said to accelerate.

[Wyatt's Torch]

Thanks for posting that. I saw it go by on my finance twitter feed but forgot to go back and find it.

We’re #1! We’re #1!

:-)