US manufacturing activity hits three-year high; cost pressures accelerating

US manufacturing activity hits three-year high; cost pressures accelerating

The Edge Markets - World·2021-03-02 05:02

WASHINGTON (March 1): US manufacturing activity increased to a three-year high in February, amid a surge in new orders, but factories continued to face higher costs for raw materials and other inputs as the pandemic drags on.

The acceleration reported by the Institute for Supply Management (ISM) on Monday was despite a global semiconductor chip shortage, which has hurt production at automobile plants.

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America Business Economy Manufacturing

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