The American manufacturing sector continued to roar to life under President Trump in January; smashing expectations and posting major gains as the administration’s new trade policies and tariffs take effect.
“Economic activity in the manufacturing sector expanded in January, and the overall economy grew for the 117th consecutive month,” said a report from the Institute for Supply Management.
“The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: ‘The January PMI® registered 56.6 percent, an increase of 2.3 percentage points from the December reading of 54.3 percent. The New Orders Index registered 58.2 percent, an increase of 6.9 percentage points from the December reading of 51.3 percent,'” adds the report.
The strong data comes just weeks after President Trump ended the longest shutdown in US history; giving Congress a mid-February deadline to reach a bipartisan budget agreement.
Read the full report here.
GREAT AGAIN: 95% of Manufacturers ‘OPTIMISTIC’ about Economy, Highest IN HISTORY
A stunning new survey by industry insiders revealed Wednesday that over 95% of American-based manufacturers have a “positive outlook” about the US economy and future growth potential.
The survey, released by the National Association of Manufacturers, shows a staggering 95.1% of those in the industry are optimistic about the US recovery heading into the third quarter of 2018; the highest level seen in the report’s twenty year history.
“Last year, manufacturers promised that we would deliver for our people and our communities if tax reform became law. Congress and the president delivered, and now manufacturers are keeping our promise: hiring new workers, raising wages, improving benefits, buying equipment and expanding right here in the United States. And the best part is, with manufacturers’ record-setting confidence and plans to keep hiring and growing, more good news is yet to come,” said a statement from NAM President Jay Timmons.
GREAT AGAIN: Business Optimism SOARS to Highest Level in History, Tops REAGAN ERA
The United States economy continued to roar to life under President Trump and the Republican-controlled Congress in August, with new data showing small business optimism smashing expectations and reaching the highest level in recorded history.
According to CNBC, the NFIB Small Business Optimism Index surged to 108.8 last month; reaching the highest level in the survey’s 45-year history and beating the previous record reached under President Reagan at 108 in 1983.
“The NFIB Small Business Optimism Index jumped to 108.8 last month, the highest level ever recorded in the survey’s 45-year history and above the previous record of 108 in 1983, set during the second year of Ronald Reagan’s presidency. The August figure was up from a 107.9 reading in July,” writes CNBC.
“Today’s groundbreaking numbers are demonstrative of what I’m hearing everyday from small business owners – that business is booming,” said the NFIB President and CEO. “As the tax and regulatory landscape changed, so did small business expectations and plans.”
Read the full story at CNBC.