Post by michaelmorin on Feb 21, 2018 7:54:55 GMT
Hi,
U.S. manufacturing contracted in November for the first time in three years as the sector buckled under the weight of a strong dollar and deep spending cuts by energy firms, but robust automobile sales suggested the economy remained on solid ground. Other data released on Tuesday showed a sturdy increase in construction spending in October, which should help offset the drag from manufacturing on fourth-quarter economic growth. With manufacturing accounting for only 12 percent of the economy, analysts say it is unlikely the persistent weakness will deter the Federal Reserve from raising interest rates this month.
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U.S. manufacturing contracted in November for the first time in three years as the sector buckled under the weight of a strong dollar and deep spending cuts by energy firms, but robust automobile sales suggested the economy remained on solid ground. Other data released on Tuesday showed a sturdy increase in construction spending in October, which should help offset the drag from manufacturing on fourth-quarter economic growth. With manufacturing accounting for only 12 percent of the economy, analysts say it is unlikely the persistent weakness will deter the Federal Reserve from raising interest rates this month.
For more details
Life Insurance Video