The manufacturing industry has fluctuated much like any market over the years, but currently the industry has seen substantial gains, hitting its highest level in nearly four years. According to a survey conducted by Markit, factory activity has expanded at its fastest pace in nearly four years as well, during February 2014. The stock market measured by the Dow Jones shows that the market has gained all of its losses from the crash of 2008, even after an unsteady start this year.
Additionally, claims for unemployment insurance have recently fallen as well, which is a good thing for the job market, as less people are getting laid off. Claims for unemployment insurance have fallen in the past weeks. The stock market pinpoints the previous industry weaknesses on the negative effects of the extremely cold weather and severe storms that the U.S. has been experiencing. Now, however, things are starting to improve.
In terms of statistics, the Dow Jones industrial average rose 92.67 points, or 0.58 percent, bringing it to 16,133.23. NASDAQ rose 29.59 points, or 0.7 percent, bringing it up to 4,267.55. The Standard & Poor’s 500 index added 11.03 points, or 0.60 percent, to end at 1,839.78.
The gradual strengthening of the U.S. economy obviously plays the largest role in helping the U.S. manufacturing industry. The creation of more jobs will allow the industry to continue to grow rather than slowly stagnate. While U.S. manufacturing will undoubtedly continue to see gains and losses, the fact that it’s currently stronger than ever is very uplifting and reassuring news.