Construction spending during August 2023 was estimated at a seasonally adjusted annual rate of more than $1.98 trillion.
The latest data shows a reading of 49% for September, the 11th straight month that the Producer Manufacturing Index was in contraction.
Cutting tool consumption totaled $189.6 million, according to the U.S. Cutting Tool Institute and Association For Manufacturing Technology.
Machinery, up four of the last five months, led the increase at $0.2 billion or 0.5% to $37.8 billion.
Mike Hockett examines the latest economic trending data as it pertains to wholesale distributors, including their revenue expectations through next year.
Projections showed the central bank would raise rates to a median 5.6% by the end of the year — up from the current range of 5.25% to 5.5%.
Mike Hockett examines the latest economic trending data as it pertains to wholesale distributors, including their revenue expectations through next year.
Nonresidential construction input prices also increased 1.5% for the month, but are up just 0.2% from a year ago, according to ABC.
The August advance is the largest increase in final demand prices since moving up 0.9% in June 2022.
A tight labor market, unbalanced federal regulations, and critical policy debates continue to confront the sector, according to a new study.
August’s 0.6% month-to-month accelerated from a 0.2% increase the previous two months, according to the latest data.
New orders of manufacturing tech totaled $353.9 million in July 2023, according to the latest U.S. Manufacturing Technology Orders Report.
