Manufacturing Growth Slows in October
U.S. manufacturing grew in October at the weakest pace since March, suggesting that troubles in the housing and credit markets are affecting the industrial sector. The Institute for Supply Management said its manufacturing index registered 50.9 in October, down from 52.0 in September. A reading above 50 indicates growth, while a reading below indicates contraction. The ISM report said new orders were relatively strong on increased exports of everything from machinery to chemicals. At the same time, the imports index fell below 50 for the first time in nearly six years, suggesting that manufacturers have begun to source supplies domestically rather than abroad. This is partially due to the dollar's plunge against foreign currencies. In addition, production volumes fell, even as customer inventories inflated. Manufacturers' backlog of orders failed to grow in October for the first time in six months, the report noted. It added that nine industries posted growth in October: apparel and leather products; oil and coal products; food, drinks and tobacco; paper products; plastics and rubber; computers and electronics; electrical equipment; transportation equipment and chemical products.
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
with Freight Factoring from Charter Capital. We purchase your Freight Invoices
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing company with unlimited payroll funding ,
whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
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Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding service, enabling you to increase your cash flow without the need
for bank loans. We are always adding new industries and will consider factoring
service providers in any industry.
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