Manufacturing Index Continues Positive Momentum

The U.S. manufacturing sector grew for the 18th consecutive month, according to a the Institute for Supply Management’s new survey of purchasing managers. OMA Connections Partner RSM reports that overall, the sentiments in the survey were optimistic — but the new COVID-19 variant poses a significant threat.

Meanwhile, orders for durable goods in the U.S. unexpectedly fell 0.5% in October, down for the second consecutive month, according to the U.S. Commerce Department, fueled by labor and material shortages.

Federal data show improvement in the U.S. jobless situation and trade deficit. But the University of Michigan’s most recent U.S. Consumer Sentiment Index report shows consumer confidence is lingering near a 10-year low amid inflation fears. 12/1/2021