US Manufacturing Surges to 3-Year High as Demand Strengthens, Hiring Picks Up

Contact Your Elected Officials

Surge driven by exports and increased demand for domestic U.S. factory goods.

America’s manufacturing sector activity shot up to a 39-month high in August, driven by a surge in domestic and export demand for U.S. factory goods, boosting hiring while putting upward pressure on production costs and selling prices.

S&P Global reported on Aug. 21 that overall U.S. business activity—including both manufacturing and services—grew at its fastest pace so far this year in August, pushing job creation to one of its highest rates in three years as businesses rushed to hire workers to meet soaring demand.

“Companies across both manufacturing and services are reporting stronger demand conditions, but are struggling to meet sales growth, causing backlogs of work to rise at a pace not seen since the pandemic-related capacity constraints recorded in early 2022,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement.

Output growth over the past two months saw its strongest back-to-back expansion since the beginning of 2022, with America’s factories showing a “marked acceleration” in production after a slowdown in July. Overall output—counting both manufacturing and services—has now grown continuously for 31 months, adding to signs of a strong third quarter.

The data indicate the economy is running at an annualized rate of 2.5 percent, up from 1.3 percent earlier this year.

Many manufacturers reported better sales and demand conditions, with output getting an additional boost from renewed inventory building. Stocks of finished goods soared at their fastest pace since S&P Global began tracking the measure in 2007. The inventory jump was fueled by a combination of expectations of rising demand and safety-stock building amid concerns of supply shortages and future tariff impacts.

Inflationary pressures rose in August, both in terms of input costs and selling prices.

“While this upturn in demand has fueled a surge in hiring, it has also bolstered firms’ pricing power,“ Williamson said. ”Companies have consequently passed tariff-related cost increases through to customers in increasing numbers, indicating that inflation pressures are now at their highest for three years.”

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Blind Man’s Shutdown

Congress is playing the equivalent of Bind Man's Bluff. With the shout “tag your it” they seek to blame the other party for the government shutdown.

A Reluctant Acknowledgment: What Conservatives Can Admire in Everyday Progressives

Admirable ideological qualities seen in liberals and left-wing individuals are those of the everyday believer not their political leadership.

Ensuring Domestic Tranquility

The Supremacy Clause in Article VI of the U.S. Constitution establishes it as the highest law of the land, taking precedence over conflicting state laws.

Pam Bondi, Zohran Mamdani, and the ADL: Censorious Peas in a Pod

Typically, the only four circumstances under which the leadership...

Shut it Down – Shut it Down

Shut down and dismantle every federal agency not essential to citizens' life, health, or liberty — phase them out and end their power. permanently!

Trump Weighs on Cutting Agencies as Government Shutdown Enters Day 2

Trump to meet with OMB Dir. Vought to decide which agencies face cuts and whether reductions will be temporary or permanent.

Is There a 9/11 WTC and 9/10 Charlie Kirk Connection?

Strange parallels in online stories raise questions about whether Israelis and Mossad intelligence are our allies or adversaries.

ACLU Sues ICE to Release Records of Detainment Facilities

ACLU has filed a lawsuit against ICE, seeking to compel the agency to disclose records related to specific operations, according to the complaint.

Pam Bondi, Zohran Mamdani, and the ADL: Censorious Peas in a Pod

Typically, the only four circumstances under which the leadership...

Department of Energy Cancels $7.5 Billion in Project Funding

The Dept of Energy (DOE) said on Oct. 2 that it had terminated 321 federal grants funding 223 projects, amounting to about $7.56 billion in cuts.

White House Withdraws EJ Antoni’s Nomination to Lead Bureau of Labor Statistics

The White House has withdrawn economist EJ Antoni’s nomination to lead the Bureau of Labor Statistics, the White House confirmed on Sept. 30.

US to Impose 100 Percent Tariffs on Foreign-Made Movies, Trump Says

President Donald Trump announced on Sept. 29 that he will impose a 100 percent tariff on all movies produced outside the United States.

Trump to Host Netanyahu at White House to Discuss Gaza Peace Plan

President Trump will host Israeli Prime Minister Netanyahu at the White House on Sept. 29 to discuss a ceasefire and broader peace plan for Gaza.
spot_img

Related Articles

Popular Categories

MAGA Business Central