• Mon. Jun 17th, 2024

Manufacturing Sector Bounces Back in the US Despite Rising Interest Rates: Signs of Positive Outlook and Optimism for Mexico’s Economy

BySamantha Johnson

Mar 27, 2024
US manufacturing sector’s outlook brightens

Despite rising interest rates, the manufacturing sector in the United States is showing signs of improvement. This positive outlook is driven by expectations of rate cuts by the Federal Reserve later this year. The manufacturing sector, which makes up 10.3 percent of the economy, is crucial for Mexico as it plays a significant role in integrating the Mexican economy with the US economy.

According to the Census Bureau of the Department of Commerce, orders for durable goods increased by 1.4 percent in February. This increase follows a revised downward data for January which showed a 6.9 percent drop in orders. Economists had anticipated a 1.1 percent rise in durable goods orders. Additionally, orders for non-defense capital goods excluding aircraft, a key indicator of company spending plans, increased by 0.7 percent in February after a 0.4 percent decrease the previous month.

In terms of consumer confidence, a survey by the Conference Board revealed that confidence remained steady in March. Concerns about a possible recession took a backseat to worries about the political environment leading up to the presidential election in November. The consumer confidence index for March was 104.7, almost the same as February’s revised figure of 104.8

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

Leave a Reply