U.S. manufacturing levels sink to two-year low

Author:
Publish date:

The Wall Street Journal reported that U.S. manufacturing activity slowed sharply to a two-year low in December, raising fears of slower economic growth in the U.S. and China.

The Institute for Supply Management’s monthly survey noted that the monthly rating dropped 5.2 points to 54.1 last month, the fastest drop since November 2008, and the lowest level in two years. A number above 50, however, shows that factory activity is still expanding.

But the ISM report noted that there was a drop in new orders and hiring at factories.

“The economy is just going to be spinning its wheels with subpar growth in 2019 if the purchasing managers’ report is to be believed,” Chris Rupkey, chief economist at MUFG in New York, told Reuters. “New orders have dried up and this will take a toll on business investment and growth in 2019.”

Manufacturing accounts for about 12 percent of the U.S. economy.

Related

Brunswick Partners with Carnegie Robotics

Through the alliance, Brunswick aims to enhance its autonomous technology offerings.

Nicole Vasilaros to Depart NMMA

The group credits the senior vice president of government and legal affairs for “countless contributions to the protection and expansion of the recreational boating industry.”

Site Unseen

A website is often the first interaction a customer will have with a dealership, but it must provide more than an online brochure or they will click elsewhere.

C.G. Amends Documentation Rules

Federally documenting a boat now must be done every five years, rather than annually.

The 2021 Top 10 Most Innovative Marine Companies Awards

The marine industry consistently honors products and people. The industry, however, has not recognized forward-thinking companies that are moving the industry in new directions. Soundings Trade Only’s mission is to reflect, inform and inspire.

German Superyacht Yard Files for Bankruptcy

Nobiskrug cited a lack of orders, the Covid-19 pandemic and other factors in its decision to start the proceedings.

West Marine Acquired

The private-equity firm L Catterton will take a controlling interest in the retailer’s ownership.

Kicker Supports Two Events on Lake Havasu

The marine audio company will take part in the performance-boat events Super Cat Fest West and the Desert Storm Poker Run this weekend and next.

Bay Bridge Show Starts Tomorrow

The combined sail- and powerboat show runs through Sunday in Stevensville, Md.