October 21, 2019
State Chamber Update
The National Association of Manufacturers (NAM) reported today: "Manufacturing production declined 0.5 percent in September, falling for the sixth time year to date, but following a gain of 0.6 percent in August. The latest decrease was led by a sharp decline in motor vehicles and parts production, down 4.2 percent, which was likely negatively impacted by the strike at General Motors. (A tentative deal was reached last week.) Excluding motor vehicles and parts, manufacturing production fell 0.2 percent in September." 

And while nationally the figures are not good, NAM's report also outlined: "The New York and Philadelphia Federal Reserve Banks both reported expanding manufacturing activity in their districts, albeit with modest growth. Respondents felt positive in their outlook for the next six months.” 

The NAM statement went on to say: “The data also continues to reflect struggles in the manufacturing sector related to weaker global growth and trade uncertainties. Manufacturing production has fallen 0.9 percent over the past 12 months, for instance, declining on a year-over-year basis for the third consecutive month.”
Chart provided by National Association of Manufacturers
News You Can Use
Data on existing home sales for September will be public on Tuesday, while durable goods orders and new home sales figures for September will be released Thursday. We close the week on Friday with an early look at the October's consumer sentiment index.  
Michael J. Quaranta
President
Delaware State Chamber of Commerce
Jobs for Delaware Graduates was designed in 1978 by five working groups in Delaware, drawn from business, educational, workforce, labor union and community leadership. The purpose of the organization was to simultaneously address Delaware’s unemployment and dropout rates. Their mission is to enable students to achieve academic, career, personal and social success.
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