USA Factories Climb More Than Forecast
Things are looking up for USA factories, and the nation’s manufacturing industry as a whole. Casually exceeding expectations, a larger-than-anticipated number of orders placed for computers and machinery specifically across the USA recently indicates that business may finally be loosening their purse strings post the 2008 financial crisis. Exports to emerging economies like China, investing in new equipment, and feeling the push toward increasing stockpiles are fueling this factory rebound. Federal Reserve policy makers have stated that the expansion was “proceeding at a moderate pace,” and was boosted by stronger business spending. Doug Oberhelman, chief executive officer at Caterpillar (the world’s largest maker of construction equipment), believes that the USA can “expect that the pace of world economic growth will support continued recovery in the key industries [the USA] serve”.
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