New U.S. Manufacturing Companies Announced in June
2020 started out strong for U.S. manufacturing, with a number of new plants announced at the start of the year, and the ISM's manufacturing activity index rocketing back into expansion territory. Then the coronavirus hit, shaking up the supply chain and hitting pause for all but the most essential operations. The manufacturing sector shed hundreds of thousands of jobs at the height of the pandemic and industrial production hit lows not seen since the Great Depression. Now, at 2020's halfway mark, there are new signs of life in the sector, with factories recovering 225,000 jobs in May. The ISM's manufacturing activity index eased off historic lows, contracting at a slower rate, and we've even seen signs of domestic sourcing as manufacturers look to secure supply chains closer to home. This post will cover some of the U.S. manufacturing expansions and new plant announcements for June 2020.
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