Last updateWed, 25 Nov 2020 4pm

Manufacturing Output Topped Forecasts in July

Industrial production, a measure of the volume of goods produced in the United States, slightly topped expectations in July, a bit of positive news for an economy buffeted by inflation and higher costs.

The Federal Reserve said that industrial production grew 0.2 percent over the previous month.

Source: The New York Times

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Manufacturing Technology Consumption In June Level With May

June U.S. manufacturing technology consumption totaled $360.43 million, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors' Association. This total, as reported by companies participating in the USMTC program, was level with May, and up 2.0% from the total of $353.40 million reported for June 2007.

Source: AMT

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Inflation Hits Annual Pace Not Seen Since 1991

Consumer prices rose at twice the rate expected in July to post the fastest rate of year-over-year growth in 17.5 years, pushed up by costlier energy and food, a government report shows.

The Labor Department said the Consumer Price Index, considered a crucial gauge of inflation, rose 0.8% in July after a 1.1% jump in June.

Source: Reuters

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U.S. Trade Gap Unexpectedly Narrows to $56.8 Billion

The U.S. trade deficit unexpectedly narrowed in June as the biggest jump in exports in more than four years overcame record imports of petroleum.

The gap shrank 4.1% to $56.8 billion from a revised $59.2 billion in May that was smaller than previously estimated, says the Commerce Department.

Source: Bloomberg

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Gloom for European Manufacturers

Optimism among European manufacturers has fallen sharply from the beginning of this year as the global economic slowdown and rapid input price inflation depress the business outlook, according to the latest KPMG/Market survey.

The survey found that average expectations both for profits and employment prospects had turned negative for the first time since the survey began in January 2006.

Source: Financial Times

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