CHIPS Act will allow for more advanced American manufacturing: Arm CEO Rene Haas
Arm CEO Rene Haas discusses if America can return to its former glory as the dominant leader in the microchip industry, telling ‘The Claman Countdown’ the demand for semiconductors has never been great.
Amid improving supply and softening demand, U.S. manufacturing contracted again in February.
On Wednesday, the Institute for Supply Management (ISM) said that its Manufacturing Purchasing Managers’ Index (PMI) was little changed at a reading of 47.7 last month from 47.4 in January, although economists estimated the index would rise to 48.
The figure indicates a third month of contraction after a 30-month period of expansion, according to the ISM report. A reading above 50 percent indicates that the manufacturing sector is generally expanding; below 50 percent indicates that it is generally contracting.
The manufacturing PMI has been at its lowest levels the last two months since May 2020 when it registered at just 43.5.
CATERPILLAR WORKERS REACH CONTRACT DEAL AT DEADLINE