08152018Wed
Last updateTue, 14 Aug 2018 7pm

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U.S. June Machine Tool Demand Up From Year Ago

Demand for the machine tools that shape metal for products, such as car engines and refrigerators, rose in June from a year ago.

U.S. June machine tool demand rose 2% to $360.43 million from $353.40 million a year earlier in June 2007, the American Machine Tool Distributors' Association (AMTDA) and the Association for Manufacturing Technology (AMT) said in a joint report.

Source: Reuters

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Manufacturing Activity Flat in July: ISM

U.S. factory activity held up to stand unchanged in July from June, managing to defy forecasts of a contraction and showing inflation pressures moderating, according to The Institute for Supply Management (ISM).

ISM said its index of national factory activity edged down to 50.0 from 50.2 in June.

Source: Reuters

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G.D.P. Grows at Tepid 1.9% Pace Despite Stimulus

The economy grew less than expected from April to June despite a huge booster shot of tax rebates, dimming the outlook for a quick recovery.

And more bad news may lie ahead: new claims for unemployment benefits jumped to a five-year high last week, an ominous sign for the ailing labor market that could signal a further decrease in spending in the months ahead.

Source: New York Times

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WTO Geneva Meeting Shows Divides Still Too Broad

National Association of Manufacturers President John Engler released the following statement in response to the end of World Trade Organization (WTO) discussions in Geneva:

“I regret to say that, despite incredible efforts on the part of U.S. Trade Representative Susan Schwab, Assistant to the President Dan Price and the entire U.S. negotiating team, WTO members declined to agree on terms that could have provided greater opportunities for trade of manufactured goods.”

Source: NAM

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