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Last updateTue, 17 Oct 2017 3pm

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One in Four Companies Could Miss Out on Digitization

Among companies in Europe and the United States, the gap between digital top performers and laggards is wide, according to The Boston Consulting Group (BCG), for which some 1,300 companies estimated their level of digital maturity. While the top performers achieve a high level of digital performance, around one in four companies is at risk of missing the boat. As a result of the analysis, the authors concluded that a company’s digital development is more industry specific than country specific, driven by similar starting points and a similar affinity for digitization.

According to the survey, the U.S. has 20% more digital top performers than Europe, putting the US market on a faster track toward digital transformation. Overall, 28% of U.S. companies were digital champions and 23% were laggards. In Europe, 23% were champions and 25% were laggards. 


Dodge Momentum Index Stumbles in July

The Dodge Momentum Index fell in July, dropping 3.3% to 135.0 (2000=100) from its revised June reading of 139.6. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The move lower in July was due to a 6.6% decline in the institutional component of the Momentum Index, while the commercial component fell 1.1%. This month continues a recent trend of volatility in the Momentum Index where a string of gains is interrupted by a step backwards in planning intentions. Despite the decline from June to July, the Momentum Index is 6.9% higher than one year ago, which suggests further moderate gains in construction activity throughout the year. The commercial component of the Momentum Index is 8.0% higher than last year, while the Institutional component is 5.3% higher. 

U.S. Adds 209,000 Jobs in July, Unemployment Rate 4.3%

Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate is down 0.1% to 4.3%, the U.S. Department of Labor reported today. Employment growth has averaged 184,000 per month thus far this year, in line with the average monthly gain in 2016 (+187,000). Employment increased in food services & drinking places, professional & business services and health care. There was no major change in manufacturing employment.

Employment in mining increased by 1,000 in July. From a recent low in October 2016 through June, the industry had added an average of 7,000 jobs per month. 

Mid-America Business Conditions Remain at Healthy Level

After rising to a six-year high last month, the July Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Arkansas to North Dakota, fell to a still solid reading according the latest monthly survey results.

The Business Conditions Index, which ranges between 0 and 100, fell to 56.1 from June’s 62.3. This is the eighth straight month the index has remained above growth neutral pointing to solid growth for the region over the next three to six months. Almost one in five, or 19.2%, of supply managers expect their firm’s prices to drop in the second half of 2017. 

July ISM Index Shows Manufacturers Still Expanding

Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 98th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report on Business.

The July PMI registered 56.3%, a decrease of 1.5% from the June reading of 57.8%. The New Orders Index registered 60.4%, a decrease of 3.1%age points from the June reading of 63.5%. The Production Index registered 60.6%, a 1.8% decrease compared to the June reading of 62.4%. The Employment Index registered 55.2%, a decrease of 2% from the June reading of 57.2%. 

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