Topic: #manufacturing
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US July Empire State Factory Index hits 15.6, beats estimates
New York manufacturing printed at 15.6 in July, nearly double the consensus estimate of 8.8, signaling healthy regional expansion and complicating the Fed's rate-cut case.
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Tesla converts Fremont factory to Optimus robot production
Tesla has repurposed its Fremont factory's Model S and Model X production line to manufacture Gen 3 Optimus robots, with footage surfacing July 1 showing the new assembly operation underway. The company targets 1 million units annually.
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China's Manufacturing PMI Expands to 50.3 as AI Exports Surge
China's manufacturing PMI hit 50.3 in June, beating forecasts, as exports of AI-related hardware surged 66.1% year-on-year. Yet the employment sub-index contracted, raising questions about job creation amid the export-driven boom.