US manufacturing and exports forge ahead in September

October 1, 2020 – Economic activity in the manufacturing sector grew in September, with the overall economy notching a fifth consecutive month of growth, according to the latest Institute of Supply Management (ISM) Manufacturing Report On Business.

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Exports helped drive the economy forging ahead to 54.3 in September, from a 53.3 reading in August. “The faster growth in new export orders subjugates what many economists predicted for early Fall,” said Fred Baehner, Publisher of IBNewsmag™.

Imports realized slower growth falling to 54.0 in September down from an August reading of 55.6.

As one unnamed electrical equipment manufacturer claimed, “Demand remains high, strong finish to 2020 projected, with an even stronger 2021 fiscal year. Prices have increased in certain categories, but no major price increases of our own have been implemented yet. We are seeing an uptick in reshoring opportunities in the third quarter.”

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