There was a massive shift in demand from services to goods due to the COVID-19 pandemic. Consumers’ needs changed. However, as the economy continues to recover and COVID-19 restrictions are lifted, this demand doesn’t seem to be letting up.
Because of this increase in demand for goods, data shows that US manufacturing saw enormous growth. The Institute for Supply Management released a report showing a jump from 60.8 to 64.7 in their Purchasing Managers’ Index (PMI). An index level above 50 indicates expansion — and according to a recent Bloomberg article, “US manufacturing expanded in March at the fastest pace since 1983.”
Despite a difficult year for US businesses, the surge in manufacturing points to an economy poised for recovery. And as we wrap up July Fourth celebrations, news of the US economy recovering from the pandemic slump seems rather befitting.
Interested in working with US manufacturers? We’re showcasing top sellers in six different categories. Source products from US-based sellers here.
This week's #B2BTuesday Tip:
Pay attention to your supply chain. Know about any possible risks and maintain open communication with your suppliers.