Manufacturing in U.S. accelerates to cap best year since 2004

CHICAGO An employee operates a straight knife machine to cut through denim patterns at a facility on Nov 8 2017. — Bloomberg

Growth in the US economy's manufacturing sector unexpectedly improved in December, according to data from the US Institute for Supply Management.

December marked 16 consecutive months of growth in the manufacturing sector and 103 straight months of growth for the USA economy as a whole.

The production index gained almost two points to 65.8 per cent, while new orders surged 5.4 points to 69.4 per cent, the strongest since January 2004 and marking seven straight months above 60.

Fiore, chair of the ISM, said: "This indicates growth in manufacturing for the 16th consecutive month, led by strong expansion in new orders and production with hiring growing at a slower rate and supplier deliveries continuing to struggle". That's the fastest pace of new orders since January 2004.The employment index was one of the only weak spots, falling to 57 from 59.7.

The Prices Index was 69 percent in December, a 3.5 percent increase from last month, and representative of higher raw materials prices for the 22nd consecutive month.

What happened: Sixteen of the 18 industries tracked by ISM reported growth.

The December PMI registered 59.7, an increase of 1.5 percentage points from the November reading of 58.2. Ten industries reported higher inventories, while seven reported a decrease. The 2017 average was 57.6 and was made possible through strong domestic business investment and increased household spending, despite a dip in November following a number of devastating hurricanes. Of the eighteen manufacturing industries, sixteen reported growth, while two reported contraction. The production index was like the one for new orders in terms of its overall strength, exceeding 60 since its June reading.

According to ISM, any reading above 50 points shows an increase in factory activity. Heading into 2018, it will be interesting to see if these trends continue or if production levels can pace closer to new orders.

Related News:

  • National Processing Inc Stock as Institutional Investors Exit

    American Assets Investment Management Llc increased Williams Sonoma Inc (WSM) stake by 16.61% reported in 2017Q3 SEC filing. Group Inc Incorporated One Trading Ltd Partnership stated it has 0% in Navios Maritime Midstream Partners L.P. (NYSE:NAP).
    Aryan Nations gang member shot officer with shotgun in Tennessee, fled

    Aryan Nations gang member shot officer with shotgun in Tennessee, fled

    Wilson is wanted by the Knoxville Police and the TBI to face a charge of attempted first degree murder of a police officer. Prayers for our KPD brother in blue suffering from a gunshot wound after an East Knoxville traffic stop.

    Ally Financial Inc. (ALLY), Tandem Diabetes Care, Inc. (TNDM) — Stocks Trend Prediction

    The rating was downgraded by Zacks to "Buy" on Friday, August 28. (NASDAQ:TNDM) rating on Monday, August 10. Yarrington Patricia E sold $4.33 million worth of Chevron Corporation (NYSE:CVX) on Wednesday, August 2.
  • Stock Watch: Cheniere Energy (LNG) Higher 14.70% Over the Last Month

    California Public Employees Retirement System boosted its stake in Cheniere Energy Partners by 18.1% in the third quarter. The stock of Penske Automotive Group, Inc. (NASDAQ:PEP) earned "Hold" rating by BMO Capital Markets on Tuesday, July 11.
    Vandenberg AFB Rocket Launch of US Spy Satellite Scheduled for Friday

    Vandenberg AFB Rocket Launch of US Spy Satellite Scheduled for Friday

    The government hasn't confirmed whether the top-secret satellite did indeed fall out of orbit and reenter Earth's atmosphere. The rocket is set to carry a secret payload for the National Reconnaissance Office as part of the NROL-47 mission.
    What the collapse of MoneyGram-Ant Financial merger means for India

    What the collapse of MoneyGram-Ant Financial merger means for India

    However, Ant Financial has also revealed that it will also pursue alternative opportunities having failed to acquire Moneygram . Ant Financial is just the latest Chinese company to face barriers to buying out United States businesses in recent months.
  • Apple Inc. (AAPL) is Armstrong Shaw Associates Inc. CT's Largest Position

    Apple Inc. (AAPL) is Armstrong Shaw Associates Inc. CT's Largest Position

    Hence the difference between Predicted EPS and Actual EPS reported is $0.2/share which shows an Earnings Surprise of 10.7 Percent. It improved, as 62 investors sold GWW shares while 157 reduced holdings. 106 funds opened positions while 620 raised stakes.

    Analysts See $1.91 EPS for Intuitive Surgical, Inc. (ISRG)

    The average Wall Street analyst rating for Intuitive Surgical, Inc.is Strong Buy, according to the average of 19 analyst scores. Following the transaction, the vice president now directly owns 536 shares in the company, valued at approximately $213,574.56.
    Biggest drop in housing prices in a decade

    Biggest drop in housing prices in a decade

    Freebies from developers ranging from 24-month rent assurance to stamp duty waivers, no floor rise charges and more. Developers, meanwhile, remain cautious with respect to new launches in the wake of mounting unsold inventory.
  • Novavax (NVAX) PT Raised to $2.50 at Ladenburg Thalmann Financial Services

    Novavax (NVAX) PT Raised to $2.50 at Ladenburg Thalmann Financial Services

    It turned negative, as 34 investors sold L shares while 137 reduced holdings. 42 funds opened positions while 80 raised stakes. It has underperformed by 96.31% the S&P500.The move comes after 6 months positive chart setup for the $685.25M company.

    Today's Brokerage Rating: VEREIT, Inc. (VER), American Airlines Group Inc. (AAL)

    Also, Director Alberto Ibarguen sold 4,229 shares of the firm's stock in a transaction that occurred on Friday, November 17th. On average, equities analysts predict that American Airlines Group will post $4.65 EPS for the current fiscal year.
    Actor, Joseph Wayne Miller dies at 36 in Chicago

    Actor, Joseph Wayne Miller dies at 36 in Chicago

    Fans of 90s pop culture will recognize Miller from his role as Salami Sam in the hit family film Heavyweights . Heavyweights star Joseph Wayne Miller died at his home in Chicago on January 9, TMZ reported Wednesday.


Most liked

SSP Group PLC 18.6% Potential Upside Indicated by JP Morgan Cazenove
While cautious optimism may be the prevailing sentiment, many investors will be looking to take the portfolio to the next level. The stock of Hutchison China MediTech Limited (LON:HCM) has "Buy" rating given on Monday, November 2 by Beaufort Securities.

Mercedes A-Class To Feature New Infotainment System With Advanced AI
By saying " Hey Mercedes ", the driver can access features like weather information, or just adjust the climate control. All touchscreens are capacitive as are the touch control buttons, while the touchpad offers haptic feedback.

Dominant Angelique Kerber to face Ashleigh Barty in Sydney final
Kerber started 2017 ranked world number one but by the end of the season had slumped to 21, and she headed into the Sydney event ranked 22.

Game of Thrones Spinoff Won't Premiere Before 2020
Game Of Thrones season 7 aired a year ago and it was recently confirmed that the show's final eighth season won't arrive until 2019 .

Son of legendary Oklahoma coach Bob Stoops commits to Sooners
He also turned down Air Force, Arkansas State, Memphis, Ohio, Western Kentucky and Youngstown State to walk-on at OU. Stoops, a Norman North receiver, announced his decision on Twitter in a post titled, "The Next Chapter".

Taking a Fresh Look at Cypress Semiconductor Corporation (CY)
It turned negative, as 34 investors sold CY shares while 109 reduced holdings. 51 funds opened positions while 104 raised stakes. Several analysts are forecasting growth estimate of Cypress Semiconductor Corporation for the current quarter to be 66.7%.

Amid Deportation Protests, ICE Detains Immigrant-rights Leader in NYC
He has since exhausted his petitions and appeals through the immigration courts, the Board of Immigration Appeals and the U.S. When Ragbir had to show up for a check-in with ICE in March, hundreds of supporters showed up with him in support.

Sahara Desert Witnesses Snowfall Due To Drop In Temperature; Watch Video
The town, which is surrounded by hot desert and not used to managing snow, experienced some difficulties with icy roads. This winter has brought extreme weather to some unexpected places - like snow in the Sahara .

'John Wick' TV Show in the Works (But Not Starring Keanu Reeves)
The movies star Keanu Reeves in the title role as a retired hitman. "Howards End", a four-episode limited series, is based on E.M. Starz announced today at the TCAs (via Deadline ) that their John Wick spinoff, The Continental , has been officially green-lit.

Will These Stocks Remain Hot? Valero Energy Corporation (VLO), Mastercard Incorporated (MA)
The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $70.89B. Voloridge Invest Management Limited Liability Corporation has invested 0.03% in Valero Energy Corporation (NYSE:VLO).

New US travel advisory system
It urges travelers to stay away from the states of Colima, Guerrero, Michoacán, Sinaloa and Tamaulipas (all level 4). The content of the Kenya section in the new system is similar to evaluations issued by the Obama administration.

Snyder's-Lance, Inc. (LNCE) Receives $32.31 Average PT from Brokerages
The performance of firm for the quarter recorded as 29.67% and for year stands at 33.01%, while the YTD performance was -0.16%. FNY Partners Fund LP bought a new stake in shares of Snyder's-Lance during the 2nd quarter valued at approximately $103,000.

Camila Cabello can finally "exhale" now that debut album "Camila" is out
They hinted that Cabello decided on her own and informed them about her plans to leave the group through her representatives. Cabello also, for the first time , revealed why she left Fifth Harmony after four successful years of making music.

Taylor Swift adds 3rd Gillette Stadium show for upcoming tour
The city is still the second stop on the tour, but Swift has added May 11 to the previously announced May 12 show. This is thanks to her diehard fans that paid a premium for the best tickets available at her concerts .

The Trailer for Jason Reitman and Diablo Cody's Tully, Starring Charlize Theron
The comedy finds Charlize Theron as a mom whose given an unexpected, life-changing present. The film opens April 20th and also stars Mark Duplass and Ron Livingston .