Afternoon Coffee: Manufacturing Sector Grows for First Time in 6 Months, Oil Production Hits Lowest Level Since 2014

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The Institute for Supply Management reported the manufacturing sector expanded in March for the first time in six months. The ISM PMI registered 51.8% for the month, up 2.3% from February. It was the first time the index showed growth in the manufacturing sector since August 2015.

U.S. crude oil production has hit its lowest level since October 2014, sinking to 9.179 million barrels per day in January, a drop of 56,000 b/d. Production remains low amid falling oil prices.

A new report by Deloitte states the United States will overtake China as home of the most competitive manufacturing industry by 2020. The report says the United State’s investment in talent, technology, and research and development will help make it the top spot for manufacturing.

Postmates, an on-demand delivery startup company, is offering a subscription-based delivery service for $9.99 a month, similar to Amazon’s Prime. The service, called Postmates Plus Unlimited, offers same-day delivery on orders of $30 or more.

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