US Manufacturing
US manufacturing index has surged to 43.1 points, marking the highest reading since June 2020 when the US economy was recovering from the first blows of the pandemic, reported Bloomberg on Friday.
American firms are optimistic about the economic outlook of the world's biggest economy as indicated by the drastic increase in the number of orders for the purpose of stock build-up, in response to US President Donald Trump's likely imposition of import tariffs on foreign goods.
New orders index also rose to the highest level since end-2021.
According to survey responses collected between Nov 4 and Nov 12, the New York fed1 manufacturing index at one point climbed to 31.2 points in November, the highest level since end-2021.
The survey outcome shows that the uncertainties surrounding the US election results have subsided and the market confidence has improved.
Locally, Malaysian manufacturing sector especially semiconductor and electronics manufacturers are watching closely the unfolding of US trade and tariff policies under the the Trump administration. The New York fed is one of the 12 Federal Reserve Banks of the United States and perceived as the most influential of them all. ︎
