US GDP Grows Above-Forecast 3.5% on Consumption, Inventories
From Industry Week: The U.S. economy expanded at a 3.5% pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending, marking the strongest back-to-back quarters of growth since 2014. The annualized rate of gains in gross domestic product compared with the 3.3% median estimate in a Bloomberg survey […]
Record Breaker: IMTS 2018 Largest Show Ever!
The 32nd edition of the International Machine Tool Show drew a record registration of 129,415 people and featured 1,424,232 sq. ft. of exhibit space representing 2,123 booths and 2,563 exhibiting companies. IMTS 2018 ran from Sept. 10-15 at Chicago’s McCormick Place. Previous records were 121,764 registrants (IMTS 1998), 1,415,848 sq. ft. of exhibit space (IMTS […]
The US Manufacturing Sector Added 18,000 Jobs in September, after adding 315,000 Jobs over Last 12 Months
According the most-recent US Bureau of Labor Statistics Report, US Manufacturing added 18,000 jobs last month–after adding a whopping 315,000 jobs over the previous 12 months! To learn more, click here.
The IDC-USA/Affiliated Distributors Merger Adds 76 New Members to the AD Family
FROM INDUSTRIAL SUPPLY MAGAZINE: IDC-USA MERGES WITH AD AD announced the merger with IDC-USA, effective Jan. 1, 2019, bringing together the two largest independent bearings & power transmission buying/marketing groups in the United States. IDC-USA adds 76 new members with 250 branch locations to the AD family, as well as redistribution centers in Indiana and Nevada […]
Women Comprise Less Than One-Third of the US Manufacturing Workforce
According to a recent Industry Week article, manufacturing needs more women: “But there’s a major issue facing the manufacturing industry today – an estimated two-million-worker shortfall over the next decade. Currently, women make up less than one-third (29%) of the overall U.S. manufacturing workforce.” But what are we doing to promote manufacturing careers to women? The article explores the […]
Year-over-Year US Industrial Production Increased by 3.2% in July 2018
From ISA/ITR: US Industrial Production during the 12 months through July was up 3.2% from the same period one year ago. Activity is rising at an accelerating pace in each of the three major components. The largest, US Total Manufacturing Production, was up 2.2%. Meanwhile, US Mining Production was up 10.6%, and US Electric and […]
The US Consumer Comfort Index Reaches 17-year High
According to a recent Industry Week article, the US economy is on solid ground, with the Consumer Comfort Index reaching 17-year high in September. A string of reports on Sept. 20 showed the labor market is getting stronger, consumers are increasingly optimistic and manufacturers are expanding, adding to signs that gross domestic product remains on […]
U.S. Manufacturing was august in August–with 3.2% growth
According to a recent MDM article, the Institute for Supply Management’s Purchasing Manager’s Index increased 3.2 percentage points during the month to a reading of 61.3. This was its highest level since May 2004, when the index reached a reading of 61.4. ISM said the results indicate strong growth in manufacturing for the 24th straight […]
U.S. GDP Rose 4.2% in the 2nd Quarter of 2018
Real Gross Domestic Product increased 4.2 percent in the second quarter, according to the second estimate from the Bureau of Economic Analysis. The growth rate was 0.1 percentage point more than the “advance” estimate released in July. In the first quarter, real GDP increased 2.2 percent. Real gross domestic income increased 1.8 percent in the second […]
June Industrial Wholesale Revenues up 10.2%; Durable Goods up 9.9%; and Inventories up 5.1% over 2017
According to MDM, wholesale revenues in June were $506.7 billion, up 10.2 percent from June 2017 and down 0.1 percent from May. June sales of durable goods were up 0.2 percent over last month and up 9.9 percent from a year ago. Sales of nondurable goods were down 0.3 percent over May and up 10.6 […]
