Electric vehicle production in North America is finally creeping up on EV demand, as automakers like Volkswagen, Ford, Lucid and Rivian hustle to close the output gap with front-runner Tesla.

Global commercial vehicle production will plunge 20% this year compared with 2019, with the North American market slumping more than 30%, according to an analysis from IHS Markit.

U.S. manufacturing activity deteriorated in July to an almost three-year low, dragged down by slower production and shaky export markets that help explain the Federal Reserve’s decision to reduce interest rates July 31.

North American Class 8 production reached a 19-month high in June after stronger orders earlier this year, according to ACT Research Co.

Mining companies in Australia, the world’s biggest exporter of iron ore and coal, are poised to approve fresh investments in projects, driven by rallying commodity prices and the need to replace depleting deposits, according to global equipment supply giant, Komatsu Ltd.

U.S. retail sales of Class 8 trucks fell 6.1% in May, but still topped 16,000 units for the highest volume of 2017 as sales started to align with the improvement that orders and production have shown this year, experts said.

Factory production in the United States grew 0.5% last month, the fastest pace in a year, as mining rebounded and utility use climbed, data from the Federal Reserve showed Aug. 16 in Washington.

Factory production rose in February for a second month, boosted by demand for business equipment and indicating U.S. manufacturing may be starting to stabilize.

Factory production declined in December for a second month as a stronger dollar and softer U.S. and global growth pinch manufacturers.

Factory production rose more than economists forecast in July on record automobile assembly, indicating American manufacturing is regaining its footing after a slowdown.