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America’s Manufacturers And Builders Are On A Tear

Friday September 15, 2017 comments

America’s manufacturers are showing signs of fabricating some genuine momentum. 

Toss in improvement among U.S. builders and miners and the U.S. is undergoing the blue-collar revival that President Donald Trump has been pushing. Gary Cohn, the top economic adviser at the White House, told CNBC that the country is seeing jobs being created in the sectors that need them.

Manufacturing expanded in August at the fastest pace in more than six years, the Institute for Supply Management said Friday. The increase from the previous month was driven mainly by the group’s gauge of factory employment, which reached the highest level since June 2011.

The ISM data were consistent with numbers from the Labor Department’s jobs report; a similar manufacturing gauge in Europe is also showing one of the fastest expansions since 2011. The U.S. government said the 36,000 advance in factory payrolls last month matched the biggest increase since 2012.