MAPI's Meckstroth says Fed report is a validation for manufacturing

06/18/2014 | Manufacturing Business Technology

Meckstroth

The Federal Reserve reported that U.S. manufacturing output rose in May, numbers that confirm earlier indications that the sector is doing well, says Daniel Meckstroth, chief economist for MAPI. "Growth is driven by a ramping-up of the housing supply chain, a rebuilding of transportation equipment infrastructure, strong growth in oil and gas infrastructure, and pent-up demand for factory machinery," Meckstroth says.

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