Afternoon Coffee: US Manufacturing Sector Continues to Expand, UPS Reports Increase in Q2 Profits

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The Institute for Supply Management reported the manufacturing sector expanded in July for the fifth consecutive month. The ISM PMI registered 52.6%, down 0.6% from June, but still showing growth in the sector.

Markit’s Manufacturing PMI for July came in at 52.8, above the 51.3 in June, showing the manufacturing sector had a strong start to the third quarter of the year. Robust domestic demand, a faster growth in output and an increase in new orders and employment helped to boost the sector last month.

United Parcel Service also recently reported its second quarter profits rose 3.2% thanks, in part, to e-commerce growth. UPS has been restrategizing on its e-commerce deliveries, such as increasing prices, adding retail locations and lockers for package pickups, to try to raise profits.

BMW AG is building a new North American supply base in Mexico to build cars for the United States, specifically the popular 3-series sedan. The Mexico factory will begin production in 2019 and produce up to 150,000 vehicles annually.

 

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