contraction, manufacturing, factories

U.S. Manufacturing Contracts for First Time in 3 Years

The nation’s leading factory index in August contracted for the first time in three years as new orders, production and employment all fell below 50 — the threshold between growth and contraction. The Institute for Supply Management’s PMI dropped to 49.1 percent last month, its lowest reading since 2016. Business confidence has also declined as…

TE Connectivity Announces $1.68M Facility Expansion

In conjunction with the economic development Coalition for Asheville-Buncombe County (EDC), TE Connectivity, a world leader in connectivity, today announced the expansion of its manufacturing facility in Fairview, N.C. with a $1.68 million investment in facilities and equipment. TE’s facility investment brings 40 new positions in engineering, production and operations to the county. The company…