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The numbers: American manufacturers are on a roll: Business conditions surged in August to a 14-year high, according to a a survey of industry executives.
The Institute for Supply Management said its manufacturing index jumped to a 14-year high of 61.3% last month from 58.1% in July. Economists surveyed by MarketWatch had forecast the index to total 57.9%.
Readings over 50% indicate more companies are expanding instead of shrinking.
What happened: The ISM's new-orders index climbed 3.2 points to 65.1% and the employment gauge rose 2 points to 58.5%. Some 16 of the 18 industries tracked by ISM reported expanding in August.
The ISM index is compiled from a survey of executives who order raw materials and other supplies for their companies. The gauge tends to rise or fall in tandem with the health of the economy.
Big picture: Growth in the U.S. economy exploded in the spring and the third quarter that got underway in July is also shaping up to be a good one. The economy is firing on almost all cylinders, though the persistent threat of a broader trade war continues to threaten recent gains.
Comment: One of the most destructive elements of this rise in radical 'safetyism' is the erasing of the line between subjective vs objective harm. We are seeing throughout Western higher education systems more things being redefined as objective harm, no matter how inconsequential. This is a very dangerous precedent as those calling for further and further 'safeties' will be the ones to set laws and policies in the future. The ultimate end of this path is a totalitarian state full of weak and helpless people, enslaved by their fear and willing to submit all their freedoms to the "nanny state" in the name of protection.