The United States has decided to double its production of 155-millimeter artillery shells.
White House National Security Communications Advisor John Kirby said that using a Congress-approved funding, the Department of Defense has contracted with General Dynamics to stand up new production lines as part of a national effort to significantly increase the number of artillery shells being produced in the country every month.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.