10222017Sun
Last updateThu, 19 Oct 2017 5pm

i

Fed Reports Economy Growth in September, Early October

Reports from all 12 Federal Reserve Districts indicated that economic activity increased in September through early October, with the pace of growth split between modest and moderate. The Richmond, Atlanta, and Dallas Districts reported major disruptions from Hurricanes Harvey and Irma in some areas and sectors, including transportation, energy, and agriculture.

Manufacturing activity and nonfinancial services expanded modestly to moderately in most districts. Based on an unusually low number of respondents this round, 60% of manufacturing firms reported higher sales in line with expectations. All responding firms reported a positive outlook with only small revisions from previous rounds. 


Industrial Production Up 0.3% in September

Industrial production rose 0.3% in September. The rates of change for July and August were notably revised; the current estimate for July, a decrease of 0.1%, was 0.5% lower than previously reported, while the estimate for August, a decrease of 0.7%, was 0.2% higher than before. Manufacturing output edged up 0.1% in September but fell 2.2% at an annual rate in the third quarter. The indexes for mining and utilities in September rose 0.4% and 1.5%, respectively. At 104.6% of its 2012 average, total industrial production in September was 1.6% above its year-earlier level. https://www.washingtonpost.com/politics/us-industrial-production-rose-solid-03-percent-in-september/2017/10/17/743d65e8-b345-11e7-9b93-b97043e57a22_story.html  

Empire State Index at Highest Level Since 2014

Business activity grew at a robust pace in New York State, according to firms responding to the October 2017 Empire State Manufacturing Survey. The headline general business conditions index climbed six points to 30.2, its highest level in three years. The new orders index came in at 18.0 and the shipments index rose eleven points to 27.5—readings that pointed to ongoing solid gains in orders and shipments. Indexes assessing the six-month outlook suggested that firms continued to be optimistic about future conditions. 

Consumer Confidence Rises in October

The University of Michigan Index of Consumer Sentiment surged in early October, reaching its highest level since the start of 2004. The data indicate a robust outlook for consumer spending that extends the current expansion to at least mid-2018, which would mark the second longest expansion since the mid 1800's. While the early October surge indicates greater optimism about the future course of the economy, it also reflects an unmistakable sense among consumers that economic prospects are now about as good as could be expected. 

Global Manufacturing Growth Remains Solid in September

The global manufacturing economy continued to expand at a solid and steady pace during September. The J.P.Morgan Global Manufacturing PMI posted 53.2, unchanged from August’s 75-month high. Manufacturing production rose at the quickest pace in six months, underpinned by further increases in both total new orders and international trade volumes. The continued upturn in new order inflows exerted further pressure on capacity, leading to one of the steepest increases in backlogs of work over the past three-and-a-half years. This in turn encouraged manufacturers to raise employment to the greatest extent since May 2011. 

Subscribe SUM17

FREE SUBSCRIPTION*

• Print magazine
Digital magazine
• VALVE eNews
Read the latest issue

*to qualified valve professionals in the U.S./Canada

BUYERS GUIDE 300x220
Advertisement

Looking for a career in the Valve Industry?

ValveCareers Horiz

To learn more, watch the videos below or visit ValveCareers.com a special initiative of the Valve Manufacturers Association

  • Latest Post

  • Popular

  • Links

  • Events

New Products