Bloomberg
Published Sep 05, 2018 00:00
Updated Sep 05, 2018 00:17
U.S. Factory Gauge Jumps to 14-Year High as Orders, Jobs Climb
(Bloomberg) -- A gauge of U.S. manufacturing unexpectedly jumped to the highest since May 2004 as orders, production and employment all picked up, offering a positive sign for the economy even as trade tensions weigh on the outlook.
Highlights of ISM Manufacturing (August)
Key Takeaways
The report shows factories remained solid in the third quarter and adds to signals that the nearly decade-old expansion will hold up well in the second half of 2018. The rise in the employment gauge also suggests manufacturers may record another month of strong payroll gains in Labor Department figures due Friday.
The gauges of exports and imports also may indicate that months of intensifying tensions are taking a toll on trade. Negotiations with Canada to modernize the North American Free Trade Agreement ended without a deal by Friday's deadline, though talks are scheduled to resume Wednesday.
President Donald Trump wants to move ahead with tariffs on $200 billion of Chinese imports as soon as a public-comment period concludes Sept. 6, Bloomberg News reported last week, citing six people familiar with the matter.
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Written By: Bloomberg
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