US Manufacturing Accelerates at Fastest Pace in 6.5 Years
#TuesdayTidbit: In November, US Manufacturing accelerated at its fastest pace in 6.5 years, with the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index reaching 63.9. http://www.shopfloor.org/2017/12/ism-manufacturing-remained-robust-november-production-fastest-pace-6%C2%BD-years/?utm_medium=NAMSocial&utm_source=LinkedIn&utm_campaign=EconNews
B2B Customer Acquisition Costs Could Be 25x Customer Retention Costs
INDUSTRIAL DISTRIBUTORS COULD SEE PROFITS INCREASE BY UP TO 95% WITH JUST A 5% INCREASE IN CUSTOMER RETENTION Because B2B organizations have relatively few customers compared to B2C companies, customer retention is a critical component of growth and profitability. Recent research by Bain & Company indicates an increase in customer retention of 5% could increase […]
US Manufacturing Technology Orders up 5% Year-to-Date
TUESDAY TIDBIT: Manufacturing technology orders continue to rise. According to the latest US Manufacturing Technology Orders Report (where do they come up with these names!), as of September, orders are up 5% year-to-date. The report says key leading indicators are positive and suggests an acceleration in order activity at the close of 2017. http://www.amtonline.org/article_display.cfm?article_id=197574
US Transportation Equipment Manufacturing Sector added more than 270,000 jobs
The US Transportation Equipment Manufacturing Sector added more than 270,000 jobs over the past five years, representing an increase of more than 20%.
Industrial Distributors Show 3.9% Growth in 3rd Quarter
Despite the setbacks of Hurricanes Harvey & Irma, industrial distributors reported growth of 3.9% in the 3rd quarter. While expectations were 4.5%, this is still a strong showing in the face of such devastation. https://www.mdm.com/articles/37893-mdm-baird-distribution-survey-storms-stunt-distributor-growth?utm_source=Real+Magnet&utm_medium=email&utm_term=6804%253A%2520Grainger%2520Dominates%2520GSA%2520Sales%2520Again&utm_content=3031051653&utm_campaign=119038414
MNI Chicago Business Barometer Hits 6.5-year High at 66.2 in October
TUESDAY TIDBIT–SPECIAL THURSDAY EDITION! Great economic news continues to pour in. This time, the Institute for Supply Management announces that the MNI Chicago Business Barometer rose to a 6.5-year high, hitting 66.2 in October. This is the highest level it has reached since March of 2011. What’s more, factory order backlogs hit their highest level […]
The US Fabricated Metal Products Sector Employment Up 8% Over Last 5 Years
TUESDAY TIDBIT: The US Fabricated Metal Products Sector now employs 109,000 people. This represents an 8% increase over the last 5 years. http://www.industryweek.com/talent/where-jobs-are-fastest-growing-sectors-manufacturing/gallery?slide=2
US 2016 Adhesives & Sealants Demand was $7.5 Billion
The 2016 US market demand for adhesives and sealants was $7.5 billion, according to data from MDM analytics. Demand was greatest in the Northeast Central, at $1.55 billion, followed by the South Atlantic, at $1.35 billion. The industry with the greatest demand was Plumbing, Heating & HVAC, at $694.6 million, followed by Corrugated & Solid […]
Wholesale Revenues up 7.2%
Wholesale Revenues in August climbed to $473.1 billion, up 7.2% over 2016, according to the US Census Bureau–continuing the trend of good economic news for industrial distributors. This was after a July that showed a 5.9% increase over 2016. Most distributors we work with are experiencing a YTD increase of 3 to 5 percent, and […]
Happy MFG Day!
