The Great American Factory Comeback
\n\nAmerica’s manufacturing sector is booming.
\n\nOrders are rising, factories are turning out more capital equipment, job openings are soaring, and purchasing managers say the expansion continued in August. Four reports released over the past few weeks approach the factory sector from different directions. All of them found accelerating strength in durable goods, the core of U.S. manufacturing.
\n\nThe latest evidence comes from the Census Bureau’s report on factory orders. On Wednesday, Census told us that new factory orders rose 0.9 percent in July to $663.6 billion. That trounced expectations for 0.5 percent growth. Through the first seven months of the year, orders were 6.5 percent higher than during the same period last year. Strip out transportation, where aircraft orders can make the headline jump around, and growth improves to 6.9 percent. Durable-goods orders are up 7.6 percent.
\n\nThe industrial core is considerably hotter. Primary metals orders are up 14.4 percent year to date. Machinery is up 12.3 percent. Computers and electronics are up 14.3 percent. Orders for industrial machinery and nondefense communications equipment have risen around 40 percent.
\n\nThose figures are measured in dollars, so higher prices account for some of the increase, particularly in…
Original source: https://www.breitbart.com/economy/
