Manufacturing had a great year in the United States! In fact, 2017 was its best year since 2004! The factory index average for the year was 57.6, which shows growth. Despite its success, the field is still facing some challenges. "A common refrain from companies surveyed, though, was difficulty finding highly-skilled labor, and some firms are paying higher wages to attract the workforce needed, ISM manufacturing survey committee chairman Timothy Fiore said on a conference call with reporters." Here's to a great 2018, too!
Key Takeaways The survey-based measure of factory activity -- the year’s second-highest behind September, when storm-related supply delays boosted the index -- brings the 2017 average to 57.6, the best in 13 years. The latest gain extends a string of strong readings that’s been fueled by more domestic business investment, improving global economies and steady spending by American households. Read More