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Daily news and top headlines for manufacturing professionals

Gas Nationwide Average Sits Under $3 At End Of October

November 4, 2014 9:43 am | by Jonathan Fahey, AP Energy Writer | News | Comments

The sight is so surprising that Americans are sharing photos of it: The gas station sign, with a price under $3 a gallon. "It's stunning what's happening here," says Tom Kloza, chief oil analyst at the Oil Price Information Service. "I'm a little bit shocked." The national average price of gasoline...

Big Data Connects Environment And Economics

November 4, 2014 9:32 am | by GE Reports | News | Comments

From space, Norfolk Southern’s 20,000-mile rail system resembles a neural network and it increasingly works like one, too. The railroad has rolled out a big data system called Movement Planner, which helps intelligently direct the hundreds of trains that ply its rails through 22 states...

U.S. Trade Deficit Expands In September

November 4, 2014 9:28 am | by Josh Boak, AP Economics Writer | News | Comments

The U.S. trade deficit rose in September, as a broader global economic weakness caused exports to fall. The Commerce Department said Tuesday that the trade deficit rose 7.6 percent to $43 billion in September. That marks the first increase in four months. Economic slowdowns in Europe...

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Toyota Motor Sales Reports 6.9 Percent Increase In October

November 4, 2014 9:24 am | by Toyota USA Newsroom | News | Comments

Toyota, Scion, and Lexus today reported total October 2014 sales results of 180,580 units, an increase of 6.9 percent from October 2013. Toyota division posted October 2014 sales of 157,225 units, up 7.5 percent.  “October vehicle sales were the best for the month in 10 years as an...

U.S. Manufacturing Ahead Of The Bell

November 3, 2014 10:06 am | by The Associated Press | News | Comments

The Institute for Supply Management reports on U.S. manufacturing production, orders, and other activity in October. The ISM, a trade group of purchasing managers, will release its manufacturing index at 10 a.m. Eastern time Monday...  

Low Gas Prices, SUV Sales Fuel Strong October

November 3, 2014 9:48 am | by Tom Krisher, Dee-Ann Durbin, The Associated Press | News | Comments

Chrysler, Nissan, and Honda all reported U.S. sales gains last month as low gas prices and booming SUV and pickup truck sales drove people into dealerships. Chrysler said its U.S. sales rose 22 per cent to 170,480 for its best October since 2001, while both Nissan and Honda posted their best October ever. Nissan sales were up...

Manufacturing Surveys Weigh On World Markets

November 3, 2014 9:42 am | by Pan Pylas, AP Business Writer | News | Comments

Global stock markets mostly fell Monday after disappointing manufacturing surveys in China and Europe reinforced concerns over the economic outlook. The Japanese yen continued its slide following last Friday's surprise Bank of Japan stimulus, falling to a seven-year low against...

China Slowdown To Hurt Global Economy

November 3, 2014 9:36 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

China's roaring economy for years has pulled much of the rest of the world with it, soaking up oil, iron ore, and other commodities from developing countries and autos and luxury goods from Europe. But its role as a global engine is fading as its economy slows — and many other nations, in the...

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U.S. Economy Grew 3.5% Rate In 3Q

October 31, 2014 1:36 pm | by Martin Crutsinger, The Associated Press | News | Comments

The U.S. economy grew at a solid annual rate of 3.5 percent in the July-September quarter, propelled by solid gains in business investment, export sales, and the biggest jump in military spending in five years. The third quarter result, which was slightly better than economists expected, followed a 4.6 percent rebound in the second...

U.S. September Consumer Spending Weakest Since January

October 31, 2014 9:21 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. consumer spending fell in September, the first decline in eight months, as shoppers took a breather after a big spending spree in August. Income growth posted the slowest gain this year. Consumer spending dropped 0.2 percent in September, the Commerce Department reported Friday, the weakest...

Applications For U.S. Jobless Aid Tick Up To 287K

October 30, 2014 11:47 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

The number of people seeking unemployment benefits rose slightly last week, but remained at historically low levels that signal a strengthening job market. Weekly applications increased 3,000 to a seasonally adjusted 287,000, the Labor Department said Thursday. The four-week average, a less volatile measure, declined...

Small Business Divided Over Minimum Wage Votes

October 29, 2014 11:59 am | by Joyce M. Rosenberg, AP Business Writer | News | Comments

Workers in five states could get a raise after Election Day. Some small business owners say raising the minimum wage will pressure their companies, forcing them to cut employees' hours or jobs. Others say it's the right thing to do for workers and the economy. Minimum wage referendums are on...

Is Detroit Manufacturing On The Rise?

October 29, 2014 9:55 am | by CNN Money | Videos | Comments

Detroit has been the poster child for urban decay. How does a great American city bounce back? CNN Money shows film for 'We the Economy', which explores the city's history and its struggle to recover from the loss of manufacturing jobs...

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A Brief Look At The U.S. Durable Goods Numbers

October 28, 2014 4:32 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | News | Comments

The U.S. durable goods numbers fell in August and September, a likely temporary dip in the market. As reported by the AP, orders to U.S. companies for long-lasting manufactured goods fell for a second month in September, while a key category that signals business investment plans dropped by the biggest amount in...

How Well Did The Fed's Stimulus Work?

October 28, 2014 4:11 pm | by Matthew Craft, AP Business Writer | News | Comments

Soaring inflation. A collapsing dollar. Bubbles in financial markets that would soon pop. One presidential candidate even suggested that the Federal Reserve chairman should be roughed up. Over the past five years, as the Fed has pumped ever-more money into the financial system, critics have warned...

U.S. Stocks Rising As Investors Await Fed Meeting

October 28, 2014 10:37 am | by Bernard Condon, AP Business Writer | News | Comments

U.S. stocks rose early Tuesday as investors weighed earnings reports from several companies and awaited news from a two-day U.S. Federal Reserve meeting that ends tomorrow. KEEPING SCORE: The Dow Jones industrial average rose 66 points, or 0.4 percent, to 16,884 as of 9:55 a.m. The Standard &...

Energy Stocks Fall As Oil Slips Below $80 A Barrel

October 28, 2014 9:50 am | by The Associated Press | News | Comments

The price of oil dipped below $80 a barrel Monday, after a major investment bank lowered its forecast for crude prices this year and next. Goldman Sachs analysts now expect U.S. oil prices to be roughly $75 a barrel in 2015, down from their previous forecast of $90 a barrel. Goldman also sees Brent...

U.S. Durable Goods Fell 1.3% In September

October 28, 2014 9:28 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Orders to U.S. companies for long-lasting manufactured goods fell for a second month in September, while a key category that signals business investment plans dropped by the biggest amount in eight months. The declines, however, were likely a temporary soft patch that will likely be followed by a resumption of stronger...

Fertilizer Maker Files Bankruptcy

October 27, 2014 6:35 pm | by The Associated Press | News | Comments

Fertilizer manufacturer Mississippi Phosphates Corp. is seeking protection under Chapter 11 of the U.S. bankruptcy code. The Mississippi Press reported the 200-employee company makes diammonium phosphate fertilizer at a plant in east Jackson County. The company says it...

S&P 500 Ends With Slight Loss On Oil, Bad News From Europe

October 27, 2014 5:02 pm | by Matthew Craft, AP Business Writer | News | Comments

Lower oil prices and more gloomy economic news from Europe tugged the U.S. stock market to a slight loss on Monday. Companies whose fortunes tend to follow global economic growth fared the worst, as shares of oil companies and material producers dropped 2 percent. Those industries that depend on the...

Fed Will Likely Signal No Rate Hike Anytime Soon

October 27, 2014 12:36 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The global economy has slumped. Turmoil has gripped financial markets. And the U.S. job market, despite steady gains, still isn't fully healthy. Yet when the Federal Reserve meets this week, few foresee any major policy changes. The Fed is expected to complete a bond-buying program, which was...

OH Gas Prices Stay Below $3 Per Gallon

October 27, 2014 12:15 pm | by The Associated Press | News | Comments

Prices at the gas pumps in Ohio at the start the new work week were well below the $3-per-gallon mark, according to a survey Monday. A gallon of regular gas was averaging $2.94 in the survey from auto club AAA, the Oil Price Information Service and WEX Inc. That's 13 cents less than a week ago and 38 cents lower than last month at this...

Obama Taking Action To Push Manufacturing

October 27, 2014 6:33 am | by The Associated Press | News | Comments

President Barack Obama is expanding his push for increased manufacturing in the United States by directing federal money toward new technologies, apprenticeship programs and competitions designed to assist small manufacturers. The White House is announcing the executive actions Monday as part of...

Procter & Gamble Spinning Off Duracell

October 24, 2014 12:30 pm | by Michelle Chapman & Candice Choi, AP Business Writers | News | Comments

Procter & Gamble is removing its batteries and making Duracell a stand-alone company. The world's largest consumer products maker, which acquired Duracell in 2005, has been trimming its product lineup to focus on its top performers. After it finishes jettisoning more than half its brands around the globe over...

Amazon's 3Q Loss Gives Disappointing Holiday Forecast

October 24, 2014 10:01 am | by Mae Anderson, AP Technology Writer | News | Comments

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast. Investors are increasingly irked by Amazon's strategy of investing heavily...

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