Strongest Growth in US Industry in Over 37 Years
US industrial activity showed the strongest growth in more than 37 years in March, aided by a significant increase in orders and production.
The figure indicates that the United States economy is clearly recovering from the corona crisis, thanks to vaccinations against the virus, relaxation of lockdowns and massive bailout packages from the US government.
The purchasing manager’s index of research firm ISM, which shows activity, jumped up last month to a level of 64.7, the highest level since 1983. A level of 50 or more indicates growth; below that, contraction.
A year ago, the industry was the largest economy globally, showing a sharp decline due to the corona pandemic, partly because factories in the US had to close.
The excellent figure for the American industry follows comparable data for the industry in Asia and Europe. There, too, activity is picking up considerably.