US manufacturing has slowed down slightly in the last few months. The recent ISM Manufacturing index highlighted that US Manufacturers are experiencing a slowdown in overseas markets as a result of the stronger US dollar and bloated inventories. Their data showed that US manufacturing activity fell to its lowest level in more than two years in September as a result of the slowdown in the Chinese economy and broader worries about the overall global economy. At the same time, many US communities are reporting historically low unemployment. Manufacturing accounts for about 9% of US employment. The numbers show that health care, leisure and hospitality, and professional and business services remained strong, and local governments created 24,000 new jobs.
Bruce Peacock
Vice President of Business Development
The Richmond Group USA