May 3, 2021
TEMPE, Ariz. â May 3, 2021 â Economic activity in the manufacturing sector grew in April, with the overall economy notching an 11th consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee:
“The April Manufacturing PMI® registered 60.7 percent, a decrease of 4 percentage points from the March reading of 64.7 percent. This figure indicates expansion in the overall economy for the 11th month in a row after contraction in April 2020. The New Orders Index registered 64.3 percent, declining 3.7 percentage points from the March reading of 68 percent. The Production Index registered 62.5 percent, a decrease of 5.6 percentage points compared to the March reading of 68.1 percent. The Backlog of Orders Index register
Updated 5/3/2021 4:13 PM
SPRINGFIELD The Illinois economy shrank by 4% in 2020 as the COVID-19 pandemic wreaked havoc on many of its sectors, although there were signs of a recovery taking place late in the year.
Those preliminary numbers, released last week by the U.S. Department of Labor s Bureau of Economic Analysis, showed that the leisure, hospitality and food service sector was the hardest hit by the pandemic, reporting a nearly 30% drop in economic output for the year.
That was due to the forced closure of bars, restaurants, theaters, amusement parks and most tourist attractions in the early phases of the pandemic, as well as the cancellation of large conventions and business meetings.
The Feminist Green New Deal: How Care Jobs Impact Climate Change
According to a new report, care work is integral to efforts toward decarbonization.
March for climate justice (Image credit: feministgreennewdeal.com)
Coming on the heels of debate about the Green New Deal proposed primarily by Senator Alexandria Occasio-Cortez, a similar coalition brief was released this month. The Feminist Green New Deal highlights the relation between climate change and the care industry.
Care and Climate: Understanding the Policy Intersections is co-authored by Lenore Paladino and Rhiana Gunn-Wright. The former is an Assistant Professor of Economics and Public Policy at the University of Massachusetts, Amherst. The latter is the Director Climate Policy at the Roosevelt Institute.
Nonresidential Investment Declines 4.8% in Q1, Dragging Down U.S. Economic Expansion
“The U.S. economy expanded rapidly during the first quarter of 2021, but investment in nonresidential structures actually subtracted from growth,” per ABC Chief Economist Anirban Basu.
May 3rd, 2021
Associated Builders and Contractors
The U.S. economy expanded at a 6.4% annualized rate during the first quarter of 2021. However, investment in nonresidential structures declined at a 4.8% rate for the quarter, according to analysis conducted by Associated Builders and Contractors of data released by the Bureau of Economic Analysis.
Many factors were at work in the overall expansion, including sizeable injections of stimulus in recent months and ongoing vaccinations. Personal consumption expenditures, fixed investment and federal, state and local government spending all supported growth.