Industrial Marketing

Manufacturers expect 5.1% growth in 2018

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Economic growth in the United States will continue in 2018, say the nation’s purchasing and supply management executives in the December 2017 Semiannual Economic Forecast. Expectations are for a continuation of the economic recovery that began in mid-2009, as indicated in the monthly ISM Report On Business.

The manufacturing sector is optimistic about growth in 2018, with revenues expected to increase in 16 manufacturing industries, and the non-manufacturing sector indicates that 17 of its industries will see higher revenues.

Capital expenditures, a major driver in the U.S. economy, are expected to increase by 2.7 percent in the manufacturing sector and increase by 3.8 percent in the non-manufacturing sector. Manufacturing expects that its employment base will grow by 1.2 percent, while non-manufacturing expects employment growth of 1.5 percent.

Manufacturing Summary

Expectations for 2018 are positive, as 70 percent of survey respondents expect revenues to be greater in 2018 than in 2017. The panel of purchasing and supply executives expects a 5.1 percent net increase in overall revenues for 2018, compared to a 4.6 percent increase predicted for 2017 over 2016 revenues.

The 16 manufacturing industries expecting revenue improvement in 2018 over 2017 – listed in order – are: Fabricated Metal Products; Electrical Equipment, Appliances & Components; Nonmetallic Mineral Products; Machinery; Miscellaneous Manufacturing; Computer & Electronic Products; Transportation Equipment; Plastics & Rubber Products; Primary Metals; Paper Products; Textile Mills; Chemical Products; Food, Beverage & Tobacco Products; Furniture & Related Products; Printing & Related Support Activities; and Petroleum & Coal Products. 

Manufacturing purchasing and supply executives expect to see growth in 2018. They are optimistic about their overall business prospects for the first half of 2018, with business continuing to expand through the second half of 2018.

In 2017, manufacturing experienced 11 straight months of growth from January through November, resulting in an average PMI of 57.4, as compared to 51.5 for 2016.

Respondents expect raw materials pricing pressures in 2018 to increase, and expect their profit margins will improve in 2018 over 2017. Manufacturers are also predicting growth in both exports and imports in 2018.

Respondents also expect the U.S. dollar to strengthen against all seven currencies of major trading partners in 2018, as was the case in 2017. 

The panel predicts the prices paid for raw materials will increase by 1.3 percent during the first four months of 2018, and will increase an additional 0.5 percent during the balance of the year, with an overall increase of 1.8 percent for 2018. This compares to a reported 2.1 percent increase in raw materials prices for 2017 compared with 2016.

https://www.mdm.com/articles/38143-forecast-economy-to-grow-in-2018?pop=no&utm_source=Real%20Magnet&utm_medium=email&utm_term=6864%253A%2520CRM%2520Success%2520Requires%2520Broad%252DBased%2520Support&utm_content=3031051653&utm_campaign=121541965

Facebook has now superseded LinkedIn as the most-important social media platform for B2B marketers

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In its annual social media survey, Social Media Examiner learned that Facebook has superseded LinkedIn as the most important social media platform for B2B marketers for the first time ever.

Clearly, Facebook dominates in the B2C space (72% of marketers select it as their number-one choice). However, for B2B marketers, Facebook also grabs the most important slot, surpassing LinkedIn. Changes since 2016: For the first time in the history of the study, Facebook has passed LinkedIn as the most important platform for B2B marketers. LinkedIn dropped from 40% to 37% and Facebook rose from 37% to 43% for B2B marketers. You will need to sign up to download the report, which contains a lot more information.

https://www.socialmediaexaminer.com/wp-content/uploads/2017/05/Industry-Report-2017.pdf

Now, if you're wondering WHY Facebook is beating LinkedIn, that's a different story. According to Beacon.com, both are valid B2B plays, but Facebook had recently been overlooked somewhat because it wasn't seen as a serious business marketing platform. Then B2B marketers began realizing businesses are made up of people. And people are on Facebook. Lots and lots of them. 

Facebook as 236 million active US users, versus LinkedIn's 128 million. So there's that. What's more, Facebook enjoys a longer average dwell time than LinkedIn. As you might suspect, there's lot's more to this analysis. If you want dive into those details, you can do so here:

https://beaconmm.com/facebook-vs-linkedin-which-one-is-the-b2b-marketing-winner/

 

US Manufacturing Technology Orders up 5% Year-to-Date

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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

Some eclipse viewing advice from Rivet|MRO

The Great American Eclipse will take place on Monday, August 21, 2017. At Rivet|MRO, we're fortunate enough to have our Lake St. Louis offices located within the totality of the eclipse.

With that, we've done some preparation, and wanted to share some eclipse viewing advice in advance of the big day. So please take a moment to watch our short video,which, incidentally, will last just about as long as the totality of the eclipse in Lake St. Louis.

Also, as this is the first time our region will enjoy a total solar eclipse since July 7, 1442, our offices will be closed between 11:30 am and 2 pm for some eclipse watching (with approved safety glasses, of course).

Finally, please note, we also will be closing our offices again for the next total solar eclipse in our area, which will take place on Wednesday, June 3, 2505.