Last updateTue, 20 Aug 2019 8pm

Manufacturing Expands in Central Atlantic Region

Manufacturing activity in the central Atlantic region expanded for the sixth straight month but at a more moderate pace in October, according to the Richmond Fed's latest survey. All broad indicators-shipments, new orders and employment-continued to grow but at a rate below September's pace.


Source: Industrial Distribution


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U.S. Goods Orders Rise for Fourth Time in Six Months

Orders for U.S. durable goods rose in September for the fourth time in the past six months, a sign factories are helping ring in an economic recovery.


The 1 percent increase in bookings for goods meant to last several years matched the median estimate of economists surveyed by Bloomberg News and followed a 2.6 percent drop the prior month, Commerce Department data showed today in Washington. Excluding transportation equipment, orders climbed 0.9 percent, exceeding the survey median.


Source: Bloomberg


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Alexander: Obama Failing in Climate Change Leadership

Senate Republican Conference Chairman Lamar Alexander (Tenn.) on Monday said President Barack Obama is promoting a climate-change bill that would "deliberately" kill American jobs -- a statement immediately dismissed by the bill’s chief promoter, Sen. Barbara Boxer (D-Calif.).


Boxer, chair of the Environment and Public Works Committee, has released a 900-page bill with Foreign Relations Committee Chairman John Kerry (D-Mass.) that is expected to be marked up next week.


Source: The Hill


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Political Uncertainty Puts Freeze on Small Businesses

W. Michael Brown has scaled back hiring plans in his Virginia auto-parts stores. Carl Redman halted an expansion project at his Oregon contracting business. Bill Hammack is preparing layoffs at his road-construction company in Georgia.


The economy remains unsteady 22 months after the recession began, with banks restricting credit and consumers hunkering down. For these small businesses, and many others across the country, there's an additional dark cloud: uncertainty created by Washington's bid to reorganize a wide swath of the U.S. economy.


Source: Wall Street Journal


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Senate Global Warming Bill Is Seeking to Cushion the Impact on Industry

The Senate bill aimed at reducing global warming pollution will initially grant billions of dollars of free emissions permits to utilities and industry but will require the bulk of the money be returned to consumers and taxpayers, according to newly released details.


The bill will also provide a cushion to energy-intensive manufacturing companies to ease the transition to a lower-carbon economy and to help them compete internationally, although the subsidies will disappear over time. The measure also sets a floor and ceiling on the price of permits to emit carbon dioxide and other greenhouse gases.


Source: New York Times


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