Tue. Jun 25th, 2024
US manufacturing sector’s outlook brightens

The manufacturing sector in the United States showed signs of improvement in the first quarter, despite rising interest rates impacting demand for goods. This was evident in the increase in orders for durable goods, such as transportation equipment and machinery, which rose by 1.4 percent in February. Although economists had anticipated a 1.1 percent rise in durable goods orders, this increase follows a revised downward data for January which showed a 6.9 percent drop in orders.

The health of the manufacturing sector is crucial for Mexico as it plays a significant role in integrating the Mexican economy with the US economy. The positive outlook is driven by expectations of rate cuts by the Federal Reserve later this year. Despite concerns about a possible recession taking a backseat to worries about the political environment leading up to the presidential election in November, consumer confidence remained steady in March, with a consumer confidence index of 104.7 almost the same as February’s revised figure of 104.8. Additionally, orders for non-defense capital goods excluding aircraft increased by 0.7 percent in February after a 0.4 percent decrease the previous month, indicating an improvement in business investment plans.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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