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Economic activity in the nation’s manufacturing sector continued expanding in February, according to two surveys of the nation’s purchasing managers. One report shows conditions are the best in two years while the other indicates things are slightly cooler than they were at the beginning of 2017.
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A preliminary look at economic conditions in the U.S. manufacturing sector during February shows they improved at a slightly slower pace than the 22-month peak seen during January.
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Retail sales, one of the largest drivers of the U.S. economy, advanced in January, pointing to increased overall growth in the first quarter of the year. At the same time, prices on the retail and wholesale level posted big gains, and the manufacturing component for industrial production ticked higher.
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Employers in the U.S. continue to add people to their payrolls at a healthy pace, and there is mounting evidence that the nation’s manufacturing sector is coming out of the doldrums.
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The U.S. manufacturing industry kicked off the year with its strongest performance in two years, according to a new report, while a separate one about the sector plus others regarding employment, personal spending and incomes all points to increased economic growth.
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The U.S. manufacturing sector had a solid start to 2017, with overall operating conditions improving at the quickest pace for nearly two years, according to a preliminary report from IHS Markit.
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The change will move manufacturing closer to its truck and trailer customers, the company said. Muskegon engineering operations will expand.
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The for-hire trucking industry was partly to thank for the 156,000 non-farm jobs additions in the U.S. during December, according to new Labor Department figures. A separate report shows manufacturing remains healthy despite small declines in new orders.
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Manufacturing in the U.S. ended 2016 on a high note, hitting its best level since 2014, according to two new reports, while separate data reveals construction spending in the country hit its highest level in a little more than a decade.
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U.S. manufacturers reported a strong end to 2016, with business conditions improving at the fastest pace since March 2015. And separate reports show consumer prices are rising and housing remains strong, despite a pullback from a multi-year high.
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