Economy

Manufacturing boom brings more signs that inflation is building rapidly

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An operator stacks heavy gauge steel brace used for industrial workbench leg at Tennsco’s factory in Dickson, Tennessee, U.S. February 17, 2021.

Tennsco | via Reuters

March brought the strongest manufacturing growth in more than 37 years, and with it increasing indications about inflation pressures in the months ahead.

The Institute for Supply Manufacturing’s monthly survey registered a 64.7% reading, representing the level of companies reporting expansion against contraction. That translated to a 3.9 percentage point increase from February, and the highest level since December 1983.

Moreover, responses to various subcategories within the readings, as well as the written summations from…



Source cnbc.com

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