A Winning Product
The production lines keep winning:
Factories said that new orders, production and hiring grew faster in January. Export orders grew last month but at a slower pace than they did in December.And the Trump Effect continues...
Twelve of 18 manufacturing industries reported growth in January, led by plastics and rubber manufacturers. The ISM is a trade group of purchasing managers.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a research note that ISM’s January numbers are “consistent with a clear and robust acceleration in manufacturing output.”
Factories have been expanding despite a strong U.S. dollar, which makes American products more expensive in overseas markets. They also have recovered from big cutbacks in the energy industry, which reflected low oil prices.