The U.S. manufacturing recession may be over

by:Gewinn     2022-04-27
The U.S. manufacturing sector has just completed its spring training, Bloomberg said. The slump in oil prices since mid-2014 has hit manufacturers linked to the energy industry, while a rising dollar has hampered manufacturing activity as a whole, but these headwinds are no longer enough for Goldman to dampen its 'near-term optimism about U.S. manufacturing.' '. Fed surveys of regional manufacturing conditions in Philadelphia, New York, Richmond, Kansas City and Dallas all showed a marked improvement in manufacturing in March: Increased manufacturing activity prompted Goldman Sachs analyst Elad Pashtan to ponder whether U.S. manufacturing has turned the corner. Pashtan observed that the cumulative improvement in Fed survey results in these regions was the highest on record in a single month. The analyst said the findings, which showed an upturn in manufacturing, were also supported by other indicators such as rail freight volumes, trucking activity and container shipping volumes. Goldman Sachs expects the U.S. March ISM Manufacturing Purchasing Managers Index to be released on Friday to rise above the 50-point dividing line between prosperity and decline. 'However, the recovery in manufacturing is likely to be fragile, as slowing auto sales and risks from further dollar appreciation could derail the recovery,' Pashtan cautioned.
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