from Arabian Money:
The monthly ISM manufacturing index is the best number in two years at 55.4. As our friends at Agora Financial put it: ‘Nothing ugly buried in the report’s internals, either. New orders? Up big. Production? Up huge. Jobs? Back in expansion territory.’
Anything above 50 indicates expansion in US manufacturing; below 50 is a contraction. From what we heard in Vancouver last month the cheap energy revolution of hydraulic fracking is proving a renaissance to US industry and this is the start of this process.
The US has already drilled 110,000 new wells. Billions have been invested. Fracking produces gas at a third of global prices and oil. Hello Qatar? This cheap energy can be used to power any industry and as feedstock for nitrogen fertilizer and much more.
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