Good-ish Data for the Manufacturing Sector

According to a recent article in Bloomberg, US Manufacturing is being boosted by an increase in onshoring, reshoring and near shoring.  C-level mentions of onshoring during earnings calls have risen 1000% since the beginning of 2022. It notes a UBS survey that reported 90% of US executives were either currently moving or planning to move production out of China – with 80% considering bringing some of it back to the US.

That’s good news, since according to the latest manufacturing sector report from the Institute for Supply Management, in June, new orders declined in the manufacturing sector for the first time in 24 months.

Institute for Supply Management’s Report on Business June 2022 shows manufacturing activity declining

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