ISM
US manufacturing contraction deepens in June
US manufacturing activity declined in June to 48.5 percent, below market expectations. Production execution was lower, causing revenue declines. Eight manufacturing industries reported growth, but textile mills, transportation equipment, and electrical equipment contracted. Wells Fargo economists highlighted inflation moderation and caution due to monetary policy and interest rates.
US manufacturing production surges 0.9% in May; beats monthly expectations
In May, production at U.S. factories rebounded more than anticipated, recovering from declines in the previous two months. However, sustained momentum is unlikely due to rising interest rates and weakening demand for goods. According to the Federal Reserve's report on Tuesday, manufacturing output surged by 0.9% last month, following a downward revision showing a 0.4% decline in April.
US services sector activity beats expectations in May
Activity in the US services sector rebounded in May, surpassing expectations, with the ISM services index rising to 53.8%. Chair Anthony Nieves noted higher business activity, new orders growth, and employment challenges.
US factory activity slips for a second month in May, ISM says
US manufacturing activity slowed in May with new goods orders dropping significantly. Input inflation fell from mid-2022 highs.
Govt asks Israel’s Tower to rework chip fab proposal
The government requested Tower Semiconductor to revise its proposal for a chip fab unit. The government seeks the Israeli company to collaborate with a technology partner boasting superior chip-making capabilities and the ability to manufacture using more advanced processes.
US manufacturing sector regresses in April; prices paid near two-year high
U.S. manufacturing experienced a contraction in April as orders declined, reversing a brief expansion seen in March. The Institute for Supply Management (ISM) reported that its manufacturing PMI dropped to 49.2 from 50.3 in March. This decline, below the 50 mark indicating growth, reflects constraints due to higher borrowing costs and a shift in spending towards services.
- Go To Page 1
Lam Research to donate $29 million in software licences over next two years
Lam Research Corporation donates $29 million in software licenses to 2,800 students in India to strengthen the semiconductor manufacturing workforce. MoU signed with ISM and IISc for Semiverse Solutions deployment and workforce training.
No justifications for gold's recent rally, investors riding on Fed rate cut hope
Gold closed at a record high of $2330 amidst escalating Middle East tensions, positive US economic data, and hints of potential rate cuts by the Fed Chair. Geopolitical tensions and economic indicators will continue to drive market sentiment. . Hotter than expected CPI inflation and contained geopolitical tensions will weigh on the metal. Resistance is at $2360/$2400 and support at $2300/$2250/$2200. A short term correction won't be surprising.
US services sector growth continues to slow in March
Activity in the US services sector cooled further last month, according to survey data published Wednesday, as new orders slowed and employment in the sector contracted. The services data came in below market expectations, according to Briefing.com, but still it remained above the 50-point mark separating growth from contraction in the sector for the 15th month in a row.
US manufacturing sector grows for the first time in 1.5 years
In March, U.S. manufacturing experienced its first growth in 1.5 years, as indicated by the Institute for Supply Management's (ISM) manufacturing Purchasing Managers' Index (PMI) rising to 50.3, the highest reading since September 2022. This rebound ended 16 consecutive months of contraction in the sector.
Government to boost funds for India Semiconductor Mission, says MeitY Secretary
In 2021, Prime Minister Narendra Modi's government launched the India Semiconductor Mission (ISM) with an outlay of ₹76,000 crore for semiconductor manufacturing, packaging, and design units. The scheme for setting up of semiconductor fabrication units in India offers fiscal support of up to 50% of the project cost on a pari-passu basis to the approved applicants.
Disappointing US data, dovish Fedspeak lift Gold's appeal
Spot gold rallied sharply Friday on disappointing US ISM manufacturing data (February) that showed that manufacturing orders, production, and employment contracted in February.
US manufacturing activity shrinks more quickly in February
US manufacturing activity contracted in February as demand slowed and output eased, according to the ISM survey. The manufacturing index stood at 47.8 percent, below expectations. The overall US economy continued its expansion. Factory activity remains under pressure, but weakness has not spread more broadly. The services sector saw expansion.
US service sector growth picks up in January: ISM survey
The US services sector experienced growth in January, with new orders and employment rebounding. However, suppliers appeared to fall behind, leading to an 11-month high in input prices. The Institute for Supply Management (ISM) reported that the non-manufacturing PMI increased to 53.4, indicating growth in the services industry, which accounts for over two-thirds of the economy.
US manufacturing sector eyes recovery in December; ISM PMI increased to 47.4
US manufacturing contracted further in December, but the pace of decline slowed amid a modest rebound in production and improvement in factory employment. The Institute for Supply Management (ISM) reported that its manufacturing PMI increased to 47.4 last month, marking the 14th consecutive month that the PMI stayed below 50, indicating contraction in manufacturing.
US manufacturing sector slumps in October, says ISM
In October, U.S. manufacturing contracted significantly, with a sharp decline in new orders and employment, largely attributed to strikes by the United Auto Workers (UAW) union against the Big Three automakers in Detroit
US service sector slows modestly in September: ISM survey
The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI slipped to 53.6 last month from 54.5 in August. A reading above 50 indicates growth in the services industry, which accounts for more than two-thirds of the economy. It was in line with economists' expectations.
US manufacturing slumps less than expected in September
The US manufacturing sector contracted less than expected in September, according to the Institute for Supply Management's manufacturing index. Despite the ongoing weakness in new orders, the index came in at 49%, higher than the median expectation of economists. This marks the 11th consecutive month of contraction in the sector, but the rate of contraction has slowed.
MyGov chief Akash Tripathi to take over as CEO of the India Semiconductor Mission
Sinha was also the officer in charge of Electronics Hardware (PLI), SCL (Semiconductor Laboratory) and Productivity and Employment Generation, and the Designated Officer (u/s 69A). As per the revised work distribution order, joint secretary Sushil Pal is to take charge of Electronics Hardware (PLI), SCL, and Productivity and Employment Generation, with effect from October 9.
Akshay Kumar charms IIT-ISM students in a virtual interaction session
Bollywood's Khiladi held a virtual interaction with students and faculty members of IIT-Indian School of Mines in Dhanbad on his upcoming movie 'Mission Raniganj -- The Great Bharat Rescue'.
Gold's fall continues on resurgent US dollar and buoyant yields
The US Federal Reserve officials seem to be leaning towards a skip in September, though they are open to a hike later this year, thus November rate hike probability stands above 50% currently.
US services sector picked up in August, along with prices
Economists polled by Reuters had forecast the non-manufacturing PMI would decrease to 52.5, and no economist anticipated a higher reading than 53.9.
US manufacturing sector stabilizing at weaker levels in August
U.S. manufacturing contracted for the 10th consecutive month in August, but the pace of decline slowed, indicating potential stabilization in the sector. The Institute for Supply Management reported that its manufacturing PMI increased to 47.6 in August from 46.4 in July. Economists had expected a rise to 47.
Chandrayaan-3 landing: Technical institutes, schools in Jharkhand to organise live streaming to motivate students
Jharkhand's top technical institutions and schools are organizing live streaming of ISRO's Chandrayaan-3 moon mission to inspire students and ignite their passion for space exploration. Institutions such as IIT-ISM and BIT Mesra have made arrangements for the live streaming, allowing students and faculty to witness the historic event. If successful, India will become the fourth country to achieve a soft landing on the lunar surface.
Gold edges lower on prospects of hawkish Fed rate-hike path
Gold prices declined slightly in early Asian trading due to a stronger U.S. dollar and concerns about potential interest rate hikes by the Federal Reserve. Spot gold fell by 0.1% to $1,917.19 per ounce, while U.S. gold futures dropped by 0.2% to $1,925.10. The dollar index remained steady near a two-week high, making gold more expensive for holders of other currencies. Investors are anticipating a rate hike in July and another in November, which could discourage investment in gold. Silver and platinum prices remained unchanged, while palladium saw a slight increase.
Foxconn pings other large business houses as Vedanta chip JV stalls
Vedanta Resources Ltd (VRL), the parent entity of vedanta limited recently raised $450 million from two of its principal rivals — Trafigura and Glencore to repay debt via pledging of equity, which analysts maintained underlines the dire financial situation of the promoters and their inability to tap more traditional sources of funding such as banks and private credit among others.
India set to approve Micron’s $3 billion semiconductor assembly, test unit
India is poised to approve a $3-billion investment by US semiconductor company Micron to set up an outsourced semiconductor assembly and test (OSAT) unit with at least four assembly lines, people in the know told ET.
Dollar on back foot after weak ISM; Aussie awaits RBA
The US dollar was below its 2.5-month highs on Tuesday after US services data increased expectations of a rate pause at the Federal Reserve meeting next week, casting uncertainty on policy ahead. Meanwhile, bitcoin declined and neared $25,000 after the Securities and Exchange Commission sued Binance and its CEO over the claim they operated a "web of deception”. Money markets indicate 35% odds on a quarter-point rate increase as the Reserve Bank of Australia reaches its policy decision, while the RBA commentators are split over whether the bank would hike or hold on rates.
Window to apply for chip, fab units under ISM set to reopen
The government hopes that with the window being reopened, there would be renewed interest from memory chip makers, packaging units, processors and compound semiconductor fabrication units. In December 2021, the government had announced an incentive scheme of ₹76,000 crore to encourage the setting up of a semiconductor manufacturing and fabrication ecosystem in India.
Load More
