photo by Vladimir Ivanovs (V).
In the United States, industrial production will decline in November, while the production of consumer goods declines, the US Federal Reserve System (FRS) has announced.
As supply chain disruptions are on the rise and rising juice costs allow production to ramp up, we are now facing sluggish demand which is holding back and raising wages.
Over the past year, the US central bank has already raised basic lending rates sevenfold to cool the world’s major economies, so borrowing has become more expensive, and the impact of that monetary policy has been felt by all sectors.
Total output fell 0.2% in November, according to the FRS, although analysts had expected some growth.
The bank added that long-term consumer goods output fell by about 2%, with automotive goods output in particular declining.
Analysts noted that the Empire State survey of industrial activity at the Federal Reserve Bank of New York also showed worse results on Thursday, with shipments and new orders declining.
US manufacturing conditions are weakening as the central bank continues to hike interest rates and the global economy weakens, said Gurleen Chadha, an economist at Oxford Economics.
Reproduction of information from the SNB news agency in the public media and on Internet sites without the consent of UAB “SNB” is prohibited.
Select the companies and topics that interest you and we will inform you in a personal newsletter as soon as they are mentioned in Business, Sodra, Anagrafe, etc. in the altos.
