News / Rise in US manufacturing suggests a road to recovery – but stay cautious

first_img The US economy appears to be on the road to recovery, judging by the improvement in manufacturing in July and rising export orders.However, pundits caution operators to adopt a flexible stance, as the trajectory of the pandemic could lead to decline in the short term.Data released by the Institute for Supply Management (ISM) show that the US Purchasing Managers Index (PMI) for July climbed for the second month in a row, after a three-month decline, to reach 54.2 (with a reading of 50 or higher indicating growth).It was up 1.6% over June and 5.6% higher than the 12-month average of 48.6.Only three of the 18 manufacturing sectors tracked by ISM suffered contraction in July – transport equipment, machinery and fabricated metal products. Two categories tracked sideways, while 13 showed growth.With five of the top manufacturing sectors expanding, production grew 4.8% from June to 62.1, reaching its highest level since August 2018. New orders indicate that growth will likely continue, as they advanced 5.1% to 61.5 – the highest reading since September 2018. Each of the top six manufacturing sectors recorded gains in new orders.International business also returned to expansion mode. New export orders were up, rising 2.7% to 50.4, while imports grew 4.3% to a reading of 53.1. Inventories contracted for a second month in a row, falling 3.5These numbers mark a considerable improvement over economic indicators of previous months. The US Bank Freight Payment Index, penned by American Trucking Association chief economist Bob Costello and published at the end of July, shows both shipments and transport spend in the US during the second quarter continued to contract from the first quarter. The index covers domestic truckload and LTL traffic and spend.The National Shipment Index sank another 7.6% from the first quarter to a value of 114.9, which is down 12.5% from a year ago. The spend index slumped 13.7% from the first quarter to 162.3, which is 19.4% lower year on year.According to the author, spending fell because of a combination of decreased traffic volume and lower prices (including lower fuel costs). Both contract and spot rates headed south in the quarter.The overall numbers conceal considerable regional variations. While shipment volume in the west slipped 1.8%, it dropped 14.1% in the south-east and 12.6% in the north-eastern US. By the same token, freight spend sank 7.5% in the west, compared to a 21.4% drop in the south-east.Despite the downward trajectory, which points to a broad recession for the first half of 2020, the report sees cause for cautious optimism. While e-commerce is expected to continue to grow, the retail and construction sectors as well as manufacturing supply chains could enjoy increased activity in the second half of the year, the author notes.However, he added a note of caution, warning that economic development would likely move in step with the rise or fall of the pandemic, with further spread of the virus set to affect freight volumes.Moreover, trade tensions are still looming large, with concerns over potential further escalation in US-China clashes and a possible conflict in US-Europe. Both the ISM and Mr Costello advise caution and a flexible, nimble stance going forward. By Ian Putzger 10/08/2020 © Robert Hyrons | Dreamstime.comlast_img read more

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Ain’t Too Proud Tony Nominee Derrick Baskin on Oprah Being ‘Auntie O’ & More

first_img Derrick Baskin  Video Player is loading.Play VideoPlayMuteCurrent Time 0:00/Duration 24:51Loaded: 0%00:00Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -24:51 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedEnglishAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button. Derrick Baskin in Aint Too Proud (Photo: Matthew Murphy) Related Shows Due to Baskin portraying a living member of The Temptations, he has had the opportunity to meet and continue to learn from the man who started it all. “He’ll text or call maybe every couple of weeks to make sure that I’m healthy and doing all right,” said Baskin of his relationship with Williams. “There’s just nothing like getting to know the real Otis Williams. He’s such a warm guy, and he’s very proud of what The Temptations have accomplished. He always visits and and every time he comes he has a new story to tell and and I’ll put those into the show. It’s an honor to tell this story.”Audiences can’t resist flocking to the Imperial Theatre to see the songs and dance moves of The Temptations, and sometimes those audiences include A-List celebrities like Oprah Winfrey. “We were told to stay after the show and as I walk on stage, Oprah Winfrey walks right towards me from the other side,” Baskin said. “I had no idea she was there. they tell us that someone’s coming but I never like to know who. All of us would have freaked out and been stuttering on stage if we knew it was her. She just really loved the show, she called us superb and she loved the entire production and cast. That kind of support from someone like Oprah is good stuff. I got my own picture with Oprah. This was the opportunity and i took it. I call Otis ‘Uncle O,’ and Oprah is like my favorite auntie so I called her ‘Auntie O’. All the extended family.” Star Files from $49.00center_img Landing his first Tony nomination had Baskin reminiscing about his Broadway debut in The 25th Annual Putnam County Spelling Bee, in which he appeared with fellow Tony nominee Celia Keenan-Bolger of To Kill a Mockingbird. “We saw each other at a press junket the day after all the nominations came out and we we found each other and just gave each other the biggest hug,” Baskin said of reuniting with Keenan-Bolger. “Jesse [Tyler] Ferguson, who was also in Spelling Bee, came to the show, too. Spelling Bee really truly was an ensemble show. It’s kind of similar to the five of us Temptations because we have to be a unit like we were a unit in Spelling Bee. Much more dancing, less spelling.”Be sure to see Baskin in Ain’t Too Proud, playing at the Imperial Theatre.Watch the full #LiveAtFive interview below! Derrick Baskin is currently giving a Tony-nominated performance as Otis Williams, the sole living original member of hit Motown group The Temptations, in Ain’t Too Proud, which received 12 total Tony nominations, including Best Musical. “As an artist, to be recognized for the work that you do there’s no greater compliment,” Baskin said to Beth Stevens in a recent interview on Broadway.com’s #LiveAtFive. “We don’t do theater to get recognition; to do the show is its own reward. To be recognized for this particular work means the world to me because I’ve never had to do this amount of work to make a role successful. I’ve never had to memorize so much dialogue, I’ve never carried a show, I’ve never lead in the show. This is all new territory and it required me to really study and to stay grounded. It just feels really good.” Ain’t Too Proud – The Life and Times of The Temptations Derrick Baskin (Photos: Caitlin McNaney for Broadway.com) View Commentslast_img read more

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President’s Charities Foundation to increase annual contributions

first_imgLocalNews President’s Charities Foundation to increase annual contributions by: – December 11, 2018 Share 176 Views   no discussions President of Dominica, Charles A. SavarinThe President Charities Foundation has announced an increase in its annual contributions to a number of charitable organizations in Dominica.President of Dominica His Excellency Charles Savarin made this announcement at a ceremony this morning at the Goodwill Parish Hall.Mr. Savarin says the President Charities Foundation will make a contribution of $46,000 this year.“The results of the dinner were better than last year,” said Mr. Savarin, “we took a decision that we would increase the contribution to each of the charitable institutions by $500.00.”The organizations that received contributions include Dominica Association of Persons with Disabilities, Dominica Council on Ageing, Workshop for the Blind, House of Hope, Lupus Foundation, St. Jerome’s Ministry, Dominica Dementia Foundation, The Alpha Center, Roseau and Northern Branches of the St. Vincent De Paul Society, Social Center, Reach and Operation Youth Quake. Sharecenter_img Tweet Share Sharing is caring!last_img read more

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Ravens grant second interviews to Wilson, Shanahan for coordinator job

first_imgMaking a good impression with head coach John Harbaugh upon interviewing for the Ravens’ vacant offensive coordinator job on Wednesday, Pittsburgh Steelers running backs coach Kirby Wilson will meet with team officials for a second interview.According to the Pittsburgh Post-Gazette, the 52-year-old is scheduled to meet with the Ravens in Owings Mills on Friday, a development that certainly bodes well for his candidacy. With general manager Ozzie Newsome and assistant general manager Eric DeCosta among the team executives in Mobile, Ala. for the Senior Bowl this week, the second interview would presumably allow them to meet and help evaluate Wilson as the potential choice to replace Jim Caldwell.The Ravens are also scheduled to meet with current wide receivers coach Jim Hostler and former Washington Redskins offensive coordinator Kyle Shanahan for second interviews, per a report from The Sun.It remains unknown whether former Detroit Lions offensive coordinator Scott Linehan will receive a second interview as he was the other candidate who was confirmed by Harbaugh earlier this week.Of the four known candidates, Wilson is the only one without NFL experience as an offensive coordinator, but he has spent the last seven years with the Steelers and was considered the favorite to become their coordinator in 2012 before he was seriously injured in a house fire. Wilson carries 16 years of NFL coaching experience on his resume and reportedly handled increased duties late last season as Pittsburgh offensive coordinator Todd Haley came under fire.The Ravens haven’t specified a clear timetable for when they’d like to have their new offensive coordinator in place, but Harbaugh told the team’s official website earlier in the week that he’d like to wrap up the process shortly with the search now in the midst of its second week.last_img read more

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