U.S. manufacturing continued to expand in February, according to the Institute for Supply Managements’ (ISM) Purchasing Managers’ Index (PMI) for manufacturing. The ISM manufacturing PMI came in at 50.1. Supplier delivery delays due to supply chain disruptions had an artificial impact on keeping the headline reading elevated, showing that despite resilience U.S. manufacturing is also seeing the impact from the coronavirus.
Woolen blanket maker, Pendleton, is forming its own Outerwear Division after re-acquiring its outerwear license from Item House, Inc. of Tacoma, Washington. Pendleton is known for its heavy woolen blankets, the first product it made on its founding in 1863.
Exercise equipment maker Nautilus has a new $70 million credit facility designed to promote the company's ongoing digital reboot. The loans include a $55 million asset-based revolving loan and a $15 million term loan from Wells Fargo. The company’s shares fell 84 percent last year.
January milk output hit 18.8 billion pounds. That’s up 0.9% from January 2019. The report pegged 2019 output at 218 billion pounds, up 0.4% from 2018, slowest growth rate since 2009. Cow numbers totaled 9.34 million head, down 0.7% from 2018 and up 2.3% from 2010. The 2019 output per cow averaged 23,391 pounds, up 241 pounds. The average annual production of milk per cow has increased 10.6% from 2010, according to the USDA.