News 

U.S. Industrial Recovery Triggers Car Sales and Factory Growth

2011-02-09

According to the report of 3news.co.nz, the recovery of U.S. industry and the reduction of unemployment both make the Americans be willing to buy more cars, home appliances, and computers. The manufacturing activities index done by Institute of Supply Management shows that the index in January 2011 was up to 60.8, which has been the highest record since May 2004. The car sale in January was also in good condition. GM and Chrysler both show increasing sales up 23% and a gain of 9% for Ford. Stimulated by these factors, many related industrial suppliers (including the fastener industry) are benefited. Some companies even show 70% of their revenues from the automotive sector. The overseas sales of U.S. factories are also stimulated, making export orders index in January jump from 54.5 in the previous month to 62.