October 22, 2020
Business News

U.S. manufacturing activity near 1-1/2-year high; construction spending extends drop – Reuters UK

WASHINGTON (Reuters) – U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery.
Still, the road to recovery for manufacturing likely remains long and bumpy, with the survey from the Institute for Supply Management (ISM) on Monday also showing hiring at factories remaining subdued for a year now. About 72% of indus…

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