Manufacturing Data Indicate Growing Strength of U.S. Economy

Upbeat manufacturing data should let business owners start their week bright-eyed and cheery without the usual caffeine. After a slow start to 2014, with GDP growth estimates near a 1% annual rate, current U.S. manufacturing data indicate the economy is getting back on its feet.

Growth is occurring in a broad range of industries. Factory orders in New York hit a four-year high and inventories increased. This indicates restocking will play a role in economic growth in the second quarter after placing a toll on the economy earlier in the year. Moreover, the New York Federal Reserve’s general business conditions index rose this month to its highest point since June 2010.

Manufacturing output in May was led by a jump in motor vehicle production. Machinery, computer and electronic products, electrical equipment and appliances, and fabricated metal products also saw gains. Overall industrial production increased after dropping in April.

Growth estimates for the second quarter are predicted to be as high as four percent, which should translate into gains for the broad housing market. A recent report on homebuilder confidence increased this month, nearly reaching levels considered favorable for building conditions.

When it meets this week, the Federal Reserve is likely to translate the most recent batch of economic data as a sign of rising U.S. economic strength.


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About William Stern

William, Managing Director in charge of business development and human capital, serves on the firm's executive steering committee. William's expertise in sales and organizational management has helped the firm exceed ambitious growth targets year after year. William is devoted to building infrastructure, eradicating inefficiencies, and developing new products and services that keep Cardiff a dynamic force within its markets. One of William's many initiatives has been to increase Cardiff's footprint across the US, penetrating new markets while building stronger relationships with current partners. Before joining Cardiff, William worked for TD Waterhouse as a Learning and Development Counselor for their burgeoning discount brokerage division. Following TDW, William held a key business development post in the Commercial Equipment Finance Division of a California-based leasing company helping to expand market share and annual sales through direct marketing to middle market companies seeking equipment financing and leasing. To learn more about capital markets, both foreign and domestic, William moved to the San Francisco Bay Area to pursue a career with Fisher Investments (FI) as an Investment Counselor in their Private Client Group. William received two degrees of Bachelor of Arts in Castillian Spanish Literature and Political Science from Revelle College at the University of California, San Diego.