10162018Tue
Last updateMon, 15 Oct 2018 7pm

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Orders for Durable Goods Drop 0.8% in March

The deep recession in manufacturing worsened in March, as demand for U.S.-made durable goods fell 0.8%, the seventh decline in the past eight months, the Commerce Department estimated Friday.

New orders declined in almost every industrial sector, although a key gauge of capital spending by businesses rose 1.5%, the second straight increase following a severe decline in January.

Source: MarketWatch

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Manufacturing Accounts For 43% of March Mass Layoffs

Employers took 2,933 mass layoff actions in March that resulted in the separation of 299,388 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Department of Labor’s Bureau of Labor Statistics of the reported on April 23. Each action involved at least 50 persons from a single employer.

Source: RP news wires

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Economy: Indicators Suggest Growing Manufacturer Optimism

NEMA’s Electroindustry Business Confidence Index (EBCI) for future North American conditions jumped 15.6 points to 52 from February to March, first above the 50 point growth threshold since August 2007.

Prime Advantage survey says 87% of industrial manfucturing companies plan new product introductions in 2009; and

Society of Manufacturing Engineers (SME) survey of 700 manufacturers say 21% of manufacturers are reporting their equipment budgets have increased, 25% have seen no change and 18% report only a slight decrease. “We’re not going to get out of this economic crisis without a strong, innovative manufacturing sector,” SME says.

Source: Control Engineering

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Global Economy is Expected to Shrink This Year

The world economy is likely to shrink this year for the first time in six decades.

The International Monetary Fund projected the 1.3 percent drop in a dour forecast released Wednesday. That could leave at least 10 million more people around the world jobless, some private economists said.

Source: Associated Press

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How Inefficient are Modern Manufacturing Methods?

New analysis from MIT has uncovered some alarming figures that indicate manufacturing methods are "spectacularly inefficient in their use of energy and materials."

It has become obvious that nearly every aspect of future manufacturing operations will have to cut its energy consumption, if not for environmental stewardship then for cutting costs to stay competitive. Manufacturers use nearly a third of the energy consumed in the United States.

Source: Industrial Market Trends

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