Growth in the U.S. services sector, where most Americans work, increased to a record pace in July even as businesses continued to face supply-chain challenges and problems in finding enough available workers.
U.S. manufacturing posted a strong gain in October to the highest level in two years even as coronavirus cases have begun to surge again in many parts of the country.
The U.S.-China trade war and slower global growth are weighing on America’s manufacturers, reducing their output and causing workforce cuts.
The pace of expansion for U.S. services companies fell to its slowest pace in nearly three years, as gauges of business activity and new orders weakened.
U.S. manufacturers grew at a faster pace in March, as the pace of employment jumped and new orders and production improved.
Although small businesses vary widely in terms of size, industry and issues, they do appear to be generally united by a growing uneasiness about the economy.
Encouraged by a booming demand for construction equipment, Mike Haberman was planning in early February to hire at least 30 more workers for the manufacturing facility of his Gradall Industries in Ohio.
