Last updateFri, 21 Feb 2020 3pm

Manufacturing Slows in August

Economic activity in the manufacturing sector declined slightly in August, but the dynamics of the sector remain relatively unchanged, according to the Institute for Supply Management’s monthly Purchasing Manager’s Index.

August PMI registered 49.9 percent, compared to July’s reading of 50 percent. A reading above 50 indicates the sector is growing; a reading below 50 indicates contraction.

Source: Industrial Distribution

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Choice of Gov. Palin Is A Strategically Smart Surprise Says NAM Executive VP

Presumptive Republican Presidential nominee Sen. John McCain’s (R-AZ) selection of Alaska Governor Sarah Palin to be his running mate “is a game changer in the presidential race," said Jay Timmons, National Association of Manufacturers executive vice president.

 "In 2004, I sat down with her in a local restaurant near Wasilla, Alaska, to discuss her interest in running for the U.S. Senate against fellow Republican and incumbent Lisa Murkowski,” said Timmons, former executive director of the National Republican Senatorial Committee.

Source: NAM

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Fuel Crisis May Boost Manufacturing

The recent surge in oil prices has shocked the Golden State, but painful as they may be, higher oil prices present California with an opportunity in unexpected quarters: the state's manufacturing base.

The days of cutting lumber in the Pacific Northwest, shipping it to China for production and sending it back to Pleasanton as a new dining room table are almost over, now that shipping a container from Shanghai to Oakland costs $8,000, compared with $3,000 a decade ago.

Source: San Francisco Chronicle

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Dem Platform Calls for a Permanent R&D Tax Credit

The R&D tax credit has been extended in one-year iterations almost a dozen times since it was created in 1981.

Jay Timmons, executive vice president for the National Association of Manufacturers, said in a phone interview from Denver that “this is an issue that the Democrats should own,” referring to the fact that a Democratic Congress passed the original law. “It is really part of their heritage.”

Source: Financial Week

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Orders for Manufactured Goods Beat Forecasts

Orders for durable goods, a report that is considered an indicator of future manufacturing activity, topped analysts’ predictions in July and recorded its third consecutive monthly increase.

The increase was led by a sharp rise in transportation equipment, the Commerce Department said Wednesday.

Source: New York Times

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