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Category: ConsumerSpending

US manufacturing picks up pace in May

June 02, 2015 Posted by Chris Wysong

US manufacturing has been on an upswing but consumer spending still lags. US manufacturing picks up pace in May By: BBC News An index compiled for the Institute for Supply Management, which represents purchasing managers, rose to 52.8 in May, up from 51.5 in April, providing hope that growth is rebounding from a first-quarter slump. Anything above 50 indicates expansion. Less encouraging were figures showing consumer spending, a large driver of the US economy, was unchanged in April. That compares to a 0.5% increase in March. Stagnant consumer spending is one reason that the US manufacturing sector has stalled, and only grown slightly in the past few months. Manufacturers usually lags consumer spending, as firms wait to boost production in the wake of spending by consumers. To read the rest of this article, visit BBC News.

Posted in Manufacturing, ConsumerSpending, Economy
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