The Southeast Michigan Purchasing Managers Index (PMI) for Oct. is 63.1, up from 59.9 in Sept., raising the three-month average for the economy to a robust 61.1. A PMI value above 50 generally suggests economic growth.
Toyota's quarterly profit soared 70 percent, and the world's top-selling automaker raised its earnings forecast, as cost cuts and the weaker Japanese yen compensated for slightly weaker vehicle sales.
The financial crisis of the past few years has severely sapped confidence in government around the globe, a think-tank representing the world's wealthiest economies said Tuesday.
Orders to U.S. factories rose in September after two months of declines on a big jump in demand for commercial aircraft. But orders that signal business confidence in the economy fell.The Commerce Department says factory orders increased 1.7 percent in September from August.
Kellogg says it plans to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year. According to FactSet, Kellogg has 31,000 employees, suggesting the company plans to cut about 2,170 jobs.
Economic activity in the manufacturing sector expanded in October for the fifth consecutive month, and the overall economy grew for the 53rd consecutive month, say the nation’s supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business.
Anheuser-Busch InBev, the world's largest brewer, says its third-quarter profits rose as the takeover of new brands and higher selling prices offset the impact of lower sales volumes. The gain largely reflects the company's $20 billion purchase of the remainder of Mexico's Grupo Modelo.
The stalling of the federal government contributed to worsening business conditions in nine Midwest and Plains states, according to a monthly economic report issued Friday.
U.S. factory activity expanded in October at the fastest pace in 2½ years, suggesting that the 16-day partial shutdown of the government had little effect on manufacturers.Instead, overseas demand and healthy U.S. auto sales appear to be supporting factory output.
Ghosn attributed the weaker than expected performance to a variety of troubles, chief among them weakness in many emerging markets and painfully expensive recalls. He announced a management reshuffle that will make the company's chief operating officer, Toshiyuki Shiga, a vice chairman and appoint three other executives as COOs.
On the heels of a profitable third quarter, Chrysler Group said it will proceed with a public offering of shares before the end of this year.
GM, Chrysler and Ford are hotter than Detroit Lions wide receiver Calvin Johnson. The automakers' earnings are strong, a promising sign for the Motor City.
Glass maker Corning said Wednesday that its net income fell 23 percent in the third quarter on lower earnings from its joint venture with Samsung, which Corning is buying out. The company gave a disappointing forecast for the fourth quarter, and shares slipped.
General Motors says third-quarter net income fell 53 percent compared with a year ago, as one-time expenses and losses in Europe offset strong performances elsewhere. The company earned $698 million in the quarter, or 45 cents per share. That compares with $1.48 billion, or 89 cents per share, a year ago.
Chrysler Group LLC today reported its preliminary third-quarter 2013 results, including net income of $464 million, marking the Company’s ninth consecutive quarter of positive net income.
A sharp drop in auto sales caused largely by a calendar quirk lowered U.S. retail spending in September. But Americans boosted their spending on most other goods, suggesting confidence in the economy ahead of the government shutdown.
Apple's quarterly earnings are still sagging even as sales of its iPhones are rising, a vexing phenomenon feeding investor worries about whether stiffer competition in the mobile device market will continue to undercut the company's prosperity.
A tight job market has discouraged many Americans from looking for work. The percentage of Americans working or looking for work remained at a 35-year low last month.
Founded in 1854 as the Eagle Foundry, the Gunite plant is the oldest continuously operating manufacturing business in Rockford and even perhaps the Midwest. Crews make brake drums, disc wheel hubs and rotors, spoke wheels and automatic slack adjusters for such customers as Ford Motor and Daimler Trucks North America.
A survey showed manufacturing growth in the Philadelphia region slowed only slightly this month, suggesting the 16-day partial government shutdown had less impact on U.S. factories than many had feared.
The White House directed all agencies to reopen promptly and in an orderly fashion. Furloughed federal employees across the country are expected to return to work Thursday.
While the emerging deal could well meet resistance from conservatives in the Republican-controlled House, the Democratic Leader, Rep. Nancy Pelosi of California, has signaled she will support the plan and her rank and file is expected to vote for it in overwhelming numbers.
Buffett said he thinks it would be absurd for American politicians to do anything to damage the country's reputation for paying its bills that has been established over the past 237 years.
The company says the price of the 2014 Chevrolet Silverado will go up almost $2,100 over the introductory price in the spring.