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China factory activity slows
Financial Express Ahmedabad
|February 04, 2025
Billionaire Elon Musk, who is heading US President Donald Trump's drive to shrink the federal government, gave an update on the effort early Monday, saying work is underway to shut down the US foreign aid agency USAID.
US FACTORY ACTIVITY expanded last month for the first time since 2022 as orders ramped up and production quickened, pointing to a brighter manufacturing outlook.
The Institute for Supply Management's manufacturing gauge rose 1.7 points in January to 50.9, the highest since September 2022, according to data released Monday. Readings above 50 indicate growth. The surveys were conducted before President Donald Trump announced 25% tariffs on imports from Canada and Mexico that risk disrupting supply chains for American producers.
A measure of new orders rose 3 points to 55.1, the strongest growth since May 2022.
BILLIONAIRE ELON MUSK, who is heading US President Donald Trump's drive to shrink the federal government, gave an update on the effort early Monday, saying work is underway to shut down the US foreign aid agency USAID.
This story is from the February 04, 2025 edition of Financial Express Ahmedabad.
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