US Manufacturing Sector is Growing But Slowly
It has been reported that whilst the US manufacturing sector did continue to grow in October the growth was only very small.
The news has come from the latest monthly survey of the manufacturing sector in the UK called the ISM Manufacturing report. The report showed that even though the growth level was at 50.8 it was down from 51.8 from the previous month. Anything above 50 is representative of growth but the figure was down on the prediction which was at 52.
According to experts it seems that output from factories was down since summer and there seems to be a sharp contrast this year with the rapid expansion of the factory output last year. Last year the output was at 55-60.
However even though the figures are disappointing they do not point to a contraction which would point towards another recession.
Some experts have said that the sharp fall in commodities will start to have a positive impact on the US economy and this will in turn start to improve the outlook for the manufacturing industry.
Other experts think that the figures are smaller because people are merely trying to keep their companies lean in the view of the turbulent global economy.