WASHINGTON (Reuters) â U.S. manufacturing activity grew at a slower pace in April, likely constrained by shortages of inputs amid pent-up demand unleashed by rising vaccinations and massive fiscal stimulus.
The Institute for Supply Management or ISM said on Monday its index of national factory activity fell to a reading of 60.7 last month after surging to 64.7 in March, which was the highest level since December 1983.
A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. Economists polled by Reuters had forecast the index edging up to 65 in April.
The White House s massive $1.9 trillion pandemic relief package and the expansion of the Covid-19 vaccination program to all adult Americans has led to a boom in demand. But the pent-up demand is pushing against supply constraints as the pandemic, now in its second year, has disrupted labor supply, leading to shortages that are boosting prices of inputs.
Feeding America estimates that our country will be short eight billion meals in the next four months. Their food banks put out three times the usual this year, due to Covid-19 joblessness and homelessness, totaling over 17 billion pounds of food. On average, at least 10 percent of Americans cannot afford food that contains actual nutrition (organic whole food and non-GMO). Currently, one in every four families are experiencing food ‘insecurity’ during this pandemic, one in six families face hunger crisis periodically, and one in ten American adults (about 18 million) literally don’t have enough food to eat right now.
Food banks simply can’t handle the upswing, plus donations and volunteers are also running scarce. To handle the influx of the needy, the number of food banks would need to at least double, if not triple, so why isn’t the US Government stepping in to help? Can you say “socialism” without coughing into your mask? Even SNAP food assistance program is falling
WASHINGTON (Reuters) — A measure of U.S. manufacturing activity soared to its highest level in more than 37 years in March, driven by strong growth in new orders, the clearest
Mario Anzuoni/Reuters
The decline is the first since COVID-19 outbreaks spread across the US in April 2020.
Manufacturing supported the broader economy throughout the pandemic as factory demand held strong.
Factory production in the US contracted for the first time since the early months of the pandemic last month, signaling that one of the more insulated pockets of the economy is still vulnerable to the pandemic and its fallout.
The Federal Reserve s measure of manufacturing output fell 3.1% in February, according to data published Tuesday. Economists surveyed by Bloomberg expected a gain of 0.2%. January s reading was revised higher to a 1.2% gain.