Some parts of the country are showing signs that manufacturing is on the rebound.
This could mean that the recent recession in US manufacturing is taking a turn toward the positive.
Here's what we know.
The manufacturing industry showed a contraction for the later part of 2019.
This could have been due to many reasons - including the trade war with China and the world's economy slowing down.
Some worried that this could be indicative of a larger industry problem, but new data shows a different story.
CNBC reported, "Early in the week, New York’s Empire State Manufacturing Survey for general business conditions posted a reading of 12.9, up 8 points from January and its best level since May. New orders surged to 22.1, the highest since September 2017, and shipments rose to 18.9, the best since November 2018."
In addition, manufacturing in Philadelphia is on its way up! In fact, their numbers are the highest they have been in three years.
Despite previous concerns, these are good indicators that US manufacturing as a whole could be rebounding. It has to start somewhere!
As CNBC said, "A first-phase tariff armistice between the U.S. and China, along with the trade agreement between the U.S., Mexico and Canada and the start of Brexit, should further boost the picture."
As we all know, markets are constantly changing. It will be interesting to see how the market changes over the next year and the next decade!
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