
Manufacturing in the U.S. continued its hot streak in February, but there are questions following other data released earlier about the sector. Personal incomes and expenditures were up, and construction spending remained robust despite little change from the month before.
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A preliminary report about the U.S. manufacturing sector for this month showed business conditions continue improving, hitting a 40-month high, while a separate one on existing home sales revealed a decline for the second straight month amid higher prices and a supply shortage.
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Several recent economic indicators, with the exception of a measure of the total output from the nation’s factories, mines and utilities production, have all moved higher. That indicates economic activity in the first month to month and a half of 2017 is still very much alive, despite recent concerns about the future following stock market gyrations.
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A measure of the U.S. manufacturing sector released Thursday is just one in a raft of new economic reports that showed 2018 began with a similar pace to that seen when 2017 wrapped up.
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The nation’s overall economic performance slowed in the final quarter of last year but turned in better performance for all of 2017 than it did for all of 2016, according to new Commerce Department figures.
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Manufacturers reported a strong start to 2018, with production volumes and incoming new work both rising at faster rates than seen at the end of last year. A separate report showed while existing home sales improved last year, they ended 2017 on a lower note.
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A surge in industrial production for December exceeded expectations, but the strength was largely a function of a weather-related utilities spike. A separate report showed a lot of optimism remains when it comes to the market for newly built homes.
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Two readings of the nation’s manufacturing sector showed solid increases in December with one showing the strongest growth in nearly three years while another report showed construction spending hit a record high.
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The amount of output from the nation’s factories, mines, and utilities posted its third straight monthly increase in November, according to newly released figures, while separate reports showed manufacturing increasing even more last month while retail sales are surging.
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Manufacturing activity in the U.S. remains strong, despite small declines recorded in three reports, while the construction sector posted its biggest gain in nearly half a year.
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