A burst in consumer durable goods spending indicates that the annual rate of contraction in durable goods new orders may be near a bottom.
While disposable income growth was above its historic average rate, a significantly higher proportion of income was still coming from government transfer payments.
Spending patterns are changing due to the pandemic. Service and experience items are out. Goods that allow more isolated entertainment or tie in with a life of working from home are in.
The Gardner Business Index reported a second consecutive month of expansionary activity in September. Large manufacturers and those serving the automotive and medical industries helped propel the Index higher.
A significant change in California’s regulation of the state’s automotive market has significant ramifications for both the industry and the entire automotive supply chain.
Total permits in the three-month period ending August 2020 were the highest three-month total since July 2007.
Recent changes in the Gardner Business Index indicate that the annual rate of contraction in cutting tool orders is nearing a bottom.
Compared with one year ago, the index contracted 8.1%, which was the fourth month in a row that the month-over-month rate of change in the index decelerated and the slowest rate of contraction since February.
Compared with one year ago, capacity utilization contracted 8.5%, which was the fourth straight month that the month-over-month rate of change contracted at a slower rate and the slowest rate of contraction since February.
The last two months of machine tool orders were the two highest of 2020.
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