Afternoon Coffee: Panama Canal Water Levels Rise, Texas Manufacturing Industry Takes a Dive in August

coffee and coffee beans

The Panama Canal won’t have to restrict larger ships from traveling through due to low water levels. Drought conditions have reportedly eased in the area thanks to rain and water conservation efforts. The canal authority was originally planning to have to restrict large ships beginning Sept. 8.

The Texas manufacturing industry is rapidly declining amid falling oil prices. The Dallas Fed reported the August manufacturing index came in at -15.8, far under what economists had predicted.

Manufacturing activity in Chicago expanded in August, though at a slower pace than expected. The Chicago manufacturing PMI came in at 54.4, down from the 54.7 in July.

The CEO of Fiat Chrysler is pushing again for a merger with General Motors – a deal that reportedly could generate $30 billion in annual earnings.

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