U.S. Capital Goods Orders Increased By More Than Forecast—Orders placed with U.S. factories for business equipment rose in October by more than forecast, highlighting solid momentum for capital investment at the start of the fourth quarter.
The global economy is expected to undergo its fastest recovery in almost five decades this year, but deepening inequities between advanced and developing countries threaten to undermine this, the United Nations warned.
Production at U.S. factories surged in July, boosted by an acceleration in motor vehicle output as automakers either pared or canceled annual retooling shutdowns to work around a global semiconductor shortage.
The U.S. Economy Added 943,000 Jobs in July—Employers added 943,000 jobs in July, the Labor Department reported, but the data was collected in the first half of the month, before variant-related cases exploded in many parts of the country.
U.S. Jobs Jump By Most In 10 Months As Economy Gains Steam—The pace of U.S. hiring accelerated in June, suggesting firms are having greater success recruiting workers to keep pace with the economy’s reopening.
The manufacturing economy grew in April and the overall economy showed an 11th consecutive month of growth, according to the Institute for Supply Management’s monthly Manufacturing ISM Report on Business.