Manufacturing.net recently released an article about the rise of manufacturing in the United States. In the past 3.5 years, the manufacturing index went from 57.1 to 59. Additionally, the U.S. economy grew at a 4.2% annual rate in the April-June quarter. Below is an excerpt from the article:
"The U.S. economy is on a notably firmer growth track this summer, even if consumers are riding in the caboose," Sal Guatieri, an economist at BMO Capital Markets, wrote in a research note.
The ISM's gauge of production rose to the highest level in four years, and a measure of new orders reached its highest point in 10 years. That suggests that the sector should grow further in coming months. Factories also added jobs last month, though at a slightly slower pace than in July.