Steel Products Prices North America
September 10, 2015
Optimism Fading in the Manufacturing Industry
Written by Sandy Williams
Manufacturing expanded at its slowest pace in two years, according to August data from the Institute for Supply Management (ISM). On the domestic front, consumer spending remains strong bolstered by low gas prices and job growth but manufacturing for export has suffered from ailing global economies and the strength of the US dollar. The export index registered 46.5, falling from 48 in July and has been on a downward trend since May.
ISM notes that new orders fell 4.8 percent to 51.7 in August. Some of that decline can be attributed to manufacturing for the energy industry which has seen a drop in production due to low oil prices that impact products used for drilling, storage and transmission.
