NAM: Manufacturing Rose (CONT’D FROM PAGE 1 )
Core Competency
Retail spending rose 0.6 percent in August, slowing from the 0.9 percent gain in July but increasing for the fourth straight month. Americans continue to spend mod- estly, with activity above pre-pandemic levels for the third consecutive month. Over the past 12 months, retail sales have risen 2.6 percent, but with motor vehicles and parts and gasoline excluded, spending has increased by a rela- tively decent 4.0 percent since August 2019. Consumer confidence increased to a six-month high, according to preliminary data from the University of Mich- igan and Thomson Reuters. However, sentiment remains below pre-pandemic levels. New residential construction declined 5.1 percent to 1,416,000 units at the annual rate in August, but the de- crease stemmed entirely from the volatile multi-family seg- ment. More importantly, single-family housing starts rose to 1,021,000 units, the best reading since February. Hous- ing permits edged down 0.9 percent but remained solid at an annualized 1,470,000 units in August. The Federal Open Market Committee (FOMC) left in- terest rates unchanged, as expected, signaling no change in rates for the foreseeable future. The latest economic projections point to the federal funds rate remaining at its current range—zero to 25 basis points—until at least sometime in 2022, reflecting continuing concerns about economic growth and in the outlook.
BloApCo Floor Shredders easily handle Cores and Sheet Waste
▲ All converting scrap handled by one BloApCo Shredder. ▲ Energy efficient. Low HP. Low RPM. Low noise. ▲ Industry leading 3-year warranty.
See the video at : BloApCo.com/horizontal-floor-shredder
www.bloapco.com 800.959.0880
© Blower Application Company, Inc., Germantown, WI 2020
4
www.boardconvertingnews.com
September 28, 2020
Made with FlippingBook Learn more on our blog