07 Sep 2021 -
 General

U.S. factory growth improves despite mounting shortages

Strong order growth pushed the U.S. manufacturing activity towards an unexpected high of 59.9 during August, say the nation’s supply executives in the latest ISM Report On Business. This is an increase of 0.4 against the previous month; readings above 50 indicate expansion.

The results revealed a mixed picture: inventories were up by 5.3% compared to July, but order backlogs were also up by 3.2%, and employment was down by 3.9%. The survey continued to highlight persistent problems securing enough raw materials, a situation worsened by new outbreaks of COVID-19 in Southeast Asia, as well as ports congestion in China.

“A surprising turn of events for manufacturing activity in the U.S., but it doesn’t change the story of supply disruptions and shortages holding back stronger growth,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto told Reuters.

Manufacturing is holding up even as spending is rotating back to services from goods because of vaccinations against COVID-19. All of the six largest manufacturing industries, including computer and electronic products, chemical products and transportation equipment reported moderate to strong growth.

To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.

For more help with looking at supply chain options, contact Astute Electronics here or visit our stands at DSEI between 14 – 17 Sept, 2021

ASTUTE ELECTRONICS
Stand: H7-225

ASTUTE E-DESIGN
Stand: H2-811

Related News

22 Jul 2024 - Industrial

Global Semiconductor Market Soaring, Projected to Surpass $1 Trillion by 2030

Read more

18 Jul 2024 - General

New N-Channel GaN FETs from Central Semiconductor

Read more

18 Jul 2024 - General

New Study Unveils Significant Value of Authorised Electronics Distributors

Read more

16 Jul 2024 - Defence

Astute Group Strengthens Embedded Computing Portfolio with AiTech Systems Distribution Deal

Read more

10 Jul 2024 - General

Counterfeit GPUs on the Rise: A Growing Concern for the Electronics Industry

Read more

09 Jul 2024 - General

DRAM Prices Skyrocket Amidst AI Boom and Production Shifts: A Deep Dive into the Memory Market

Read more