Tag: Manufacturing
Manufacturing Grows…just slowly
by admin on Dec.25, 2009, under Manufacturing
U.S. manufacturing activity increased for the fourth consecutive month in November, although at a slower rate as the nation fumbles its way toward recovery.
Meanwhile, the housing market showed further signs of strength in October, but nonresidential construction spending declined 1.5%.
The Institute for Supply Management said Tuesday that its index of manufacturing activity fell to 53.6 in November from 55.7 the prior month, although it remained above the key 50 level that indicates expansion. Although the employment and production components within the index slipped, new orders rebounded from an October decline and rose nearly two points to a level of 60.3.
Obama Administration Announces U.S. Manufacturing Plan
by admin on Dec.25, 2009, under Manufacturing
The Obama administration will announce a push today for a $5-billion boost to a tax credit for green manufacturing, along with a seven-point plan to slow job losses at U.S. manufacturers.
The plans come as Vice President Joe Biden hosts business leaders this afternoon to talk over ways to boost jobs in a sector that employs fewer Americans now than it did in World War II.
The administration’s plans tout U.S. manufacturing as a source of strength for the economy in areas such as fuel-efficient vehicles and biotechnology. But the plan faces several tough hurdles to taking effect, including international trade, government spending and relations with China.
US Manufacturers Grow More Confident Worst Is Over
by admin on Oct.26, 2009, under Manufacturing
U.S. manufacturers can’t quite see the light at the end of the tunnel, but are growing more confident that they are not going to run off the rails.
Honeywell International and Ingersoll-Rand, which make products ranging from control systems for large buildings to air conditioners, told investors Friday that after a year of sharp declines in earnings and sales, they expect better conditions in 2010.
Honeywell, the world’s biggest maker of cockpit electronics, expects “flattish” sales next year, Chief Financial Offieer Dave Anderson said.
“What we’re seeing now is that we’re stabilizing at these new low rates. In other words, the spend levels are way down but they’re stable sequentially, quarter to quarter,” Anderson said in an interview.
Midwestern Senator Puts Manufacturing Issues at Forefront of Climate Debate
by admin on Oct.21, 2009, under Manufacturing
In the quest to secure 60 votes for cap-and-trade legislation, bill sponsors can point to almost any member of the Democratic Senate majority as a “must have” vote.
But, at least in the early days of the debate over the Kerry-Boxer climate change package, perhaps no single Democrat has received as much attention as Ohio’s Sherrod Brown, who has become an absolute “make or break” vote for the majority.
The first-term senator is one of several Midwestern Democrats currently on the fence over the bill, and there are others on that list who have more seniority and, perhaps, more power to shape major legislation. The only committee on which Brown sits that figures to get a crack at the bill is Agriculture.
Nevertheless, Brown is a pivotal litmus test in the ability of Democratic leadership to bring other moderate senators on board.
Chicago Manufacturing Index Falls
by admin on Oct.20, 2009, under Manufacturing
Manufacturing activity in the Chicago area shrank in September, the Institute for Supply Chain Management-Chicago said Tuesday.
ISM-Chicago’s monthly index dropped to a reading of 46.1, from 50 in August.
Figures lower than 50 signal contraction, while above that signal growth.
The reading fell short of economists’ predictions that it would rise to 52, Bloomberg reported.
Chicago is a major center of U.S. manufacturing, which is one of trucking’s largest and most important customers.
TREASURIES-Losses scored on jobless drop, manufacturing rise
by admin on Oct.19, 2009, under Manufacturing
NEW YORK, Oct 15 (Reuters) – U.S. Treasury debt prices fell on Thursday on fresh signs of recovery in manufacturing and the labor market.
The number of U.S. workers filing new claims for jobless insurance declined unexpectedly by 10,000 last week to 514,000, the lowest level since January. The U.S. Labor Department report hinted at stabilization in the labor market.
In another piece of good economic news, the Federal Reserve Bank of New York’s gauge of New York State manufacturing unexpectedly jumped this month to its highest in five years as new orders, shipments and employment surged.
MAPI survey shows sign of manufacturing rebound
by admin on Oct.18, 2009, under Manufacturing
ARLINGTON, Va. — U.S. manufacturing activity will contract for the rest of this year but then start increasing next year, a survey of senior financial executives predicted Thursday.
The third quarter survey by Manufacturers Alliance/MAPI, a private research group, resulted in a composite index of 38, up from 24 registered in the second quarter, a historic low.
The group’s latest survey also marks the highest level in a year, or since an index of 48 was recorded in September 2008.
Production in U.S. Increases More Than Anticipated
by admin on Oct.16, 2009, under Automotive, Manufacturing
Oct. 16 (Bloomberg) — Industrial production in the U.S. rose more than three times as much as anticipated in September, putting manufacturing at the forefront of the emerging economic recovery.
The 0.7 percent increase in production at factories, mines and utilities exceeded every forecast of economists surveyed by Bloomberg News and followed gains of 1.2 percent in August and 0.9 percent in July, Federal Reserve figures showed today. Capacity utilization, which measures the proportion of plants in use, climbed to the highest level in seven months.
Congress OKs $1 million for USI for engineering, manufacturing equipment
by admin on Oct.15, 2009, under Engineering, Manufacturing
Congress has approved $1 million for advanced manufacturing and engineering equipment at the University of Southern Indiana.
The U.S. House of Representatives approved the money as part of the fiscal year 2010 Energy and Water Development Appropriations bill on Oct. 1 and the Senate approved it today. President Barack Obama is expected to sign the bill into law.
“The long-term strength of Indiana’s economy rests on maintaining a well-trained workforce,” said Rep. Brad Ellsworth, D-Ind., who requested the money in the House. “These funds will help ensure USI graduates have the cutting-edge training and skills Indiana businesses need to recover and compete in the global economy.”
Sen. Richard Lugar, R-Ind., requested the money on the Senate side.
“These funds will allow USI to become a leader in advanced manufacturing and engineering education in Southwestern Indiana through the purchase of educational technologies,” Lugar said in a written statement. “Southwestern Indiana, along with Hoosiers across the state, will soon witness the economic benefit that is sure to be gained from the innovative activities and cutting-edge collaboration that is taking place among gifted students in the College of Business and Engineering as a result of this investment.”
The money will be used to buy engineering and advanced manufacturing equipment for USI’s new Business and Engineering Center. The Center will teach coursework in Robotics and Advanced Manufacturing, providing engineering students with hands-on experience and knowledge of state-of-the-art manufacturing technology, equipment, and operations.
