Manufacturing output increased at a 56.2 percent annual rate in the third quarter of 2020. This followed the largest decrease where output dropped 46.5 percent.
Productivity is on the rise at a 19.9 percent annual rate, and hours worked are also seeing a nice increase at 37.1 percent. After seeing decreases across the board on all three measurements in the second quarter, it was promising to see manufacturing bounce back…here’s hoping your distributorship’s business is bouncing back even more!
Check out the full report from the Bureau of Labor Statistics.