Manufacturing Bright Spot of US Economy

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MarketWatch reports that manufacturing is among the only bright spots in the U.S economic outlook.

From the story:

The one part of the economy that appears to have clear sailing is the manufacturing sector. New orders have been flowing in, especially from overseas, and companies are hiring.

The manufacturing sector has added 102,000 workers in the past three months, accounting for nearly 23% of all jobs created in the U.S. in the first three months of 2011.

The Empire State report last week showed no slowdown by manufacturers in the New York region. Orders rose sharply and the index jumped to its highest point in more than a year. Read MarketWatch report on business conditions in New York.

“Manufacturing is on fire,” PNC Financial Services Chief Economist Stuart Hoffman said.

The Philadelphia Fed’s manufacturing index, however, is expected to decline in April, but mainly because it’s already so high. The Philly Fed index soared last month to its highest level since 1984.

The full article can be read here.

– The Editors