Last updateThu, 19 Jul 2018 4pm


Industrial Production Falls by Least in 6 Months

The nation's industrial production fell in April by the smallest amount in six months, fresh evidence that the pace of the economy's decline is slowing.

Output by U.S. factories, mines and utilities fell by 0.5 percent last month, after revised declines of 1.7 percent in March and 1 percent in February, the Federal Reserve said Friday. Analysts expected a drop of 0.6 percent in April.

Source: Associated Press

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Companies Will Spend on Travel Aimed at Boosting Revenue

The chief financial officers at eight of 10 companies surveyed globally this spring by American Express' Global Commercial Card Group and CFO Research Services said they're spending less to send employees to staff meetings, conferences, management retreats, training and feel-good corporate gatherings.


Marty Kittrell, CFO at Dresser, a maker of industrial valves, told researchers that requests to travel internationally on business now go to a team of senior executives that includes the CEO.

Source: USA Today

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Lawmakers Hear Testimony on Importance of Manufacturing Sector to Economy

Lawmakers on the Senate Banking, Housing & Urban Affairs Committee heard testimony Wednesday on the importance of the manufacturing sector to economic stability.

Senator Sherrod Brown (D-OH) said that a "continuing loss of US manufacturing means a greater dependence on foreign factories to produce both everyday consumer goods and the key elements of our national security, including the building blocks of our nation's infrastructure and the equipment crucial to our nation's military."

Source: RTT News

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Manufacturers Disappointed in Trade Report

The United States’ largest manufacturing group says the country’s deepening deficit suggests the economic downturn has further to go.

“The March data do not show signs that the trade decline has yet hit bottom,” said Frank Vargo, vice president for international economic affairs at the National Association of Manufacturers.

Source: Journal of Commerce

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Manufacturers Lobby Against Obama Tax Plan

Major U.S. manufacturing companies, including 3M Co and Ingersoll-Rand Co Ltd, lobbied U.S. lawmakers this week to hold back tax law changes proposed by President Barack Obama.

More than 300 executives of the National Association of Manufacturers met more than 100 lawmakers and staff on Capitol Hill, to persuade lawmakers to oppose Obama's tax proposals that many companies say will hamper their competitiveness in global markets.

Source: Reuters

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