Modest Growth in Personal Income and Spending in July

The Bureau of Economic Analysis said that personal income increased 0.4 percent, marking the fourth straight month with that pace. Over the course of the past 12 months, personal incomes have risen 4.3 percent, up from 4.1 percent in the last report. Total manufacturing wages and salaries were $793.2 billion in July, up from $788.5 billion in June. This continues an upward trend for the sector, with manufacturing wages and salaries totaling $746.8 billion and $780.9 billion on average in 2013 and 2014, respectively. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Kansas City Fed: Manufacturing Activity Has Declined for Six Straight Months

The Kansas City Federal Reserve Bank said that manufacturing activity in its district has declined for six straight months. The composite index of general business conditions edged lower, down from -7 in July to -9 in August, with this measure in solid negative territory since March. Overall, manufacturers continue to report contracting levels of activity, with reduced crude oil prices, the strong dollar and weaknesses abroad pressuring the sector’s performance. Indeed, various measures of activity were negative across-the-board. This included new orders (down from -6 to -9), production (down from -5 to -16), shipments (down from -2 to -15) and exports (up from -10 to -4). Exports have now declined for eight consecutive months. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Second Quarter Real GDP Revised Sharply Higher, up from 2.3 Percent to 3.7 Percent Growth

The Bureau of Economic Analysis revised its estimate of growth in the U.S. in the second quarter sharply higher. Real GDP increased 3.7 percent in the second quarter, significantly higher than the 2.3 percent original estimate released last month. This was slightly above the consensus estimate of 3.2 percent, and the improvement in economic growth for the quarter was attributed to upward revisions in many categories, but particularly for inventory spending. Despite the better headline figure, the underlying trends were largely the same, including rebounds in consumer and business spending and with net exports recovering a bit after serving as a drag in the prior two quarters.  (continue reading…)

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)


Durable Goods Orders Up for the Second Straight Month

The Census Bureau said that new durable goods orders rose 2.0 percent in July, extending the 4.1 percent jump seen in June. Through the first seven months of 2015, new durable goods orders have risen 6.3 percent. Much of the gain in June came from strong sales from the Paris Air Show, and as we would expect, nondefense aircraft orders came back to earth in July, down 6.0 percent. Even with this decline, however, transportation orders were up 4.7 percent, boosted by rebounding auto sales. Motor vehicle orders increased 0.8 percent and 4.0 percent in the past two months, respectively, improving from softer demand in the spring months and helping the segment notch a 7.3 percent year-to-date gain. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Conference Board: Consumer Confidence Rebounded in August

The Conference Board said that consumer sentiment jumped strongly in August, rebounding from the sharp decline seen in July. The Consumer Confidence Index, which unexpectedly fell significantly from 99.8 in June to 91.0 in July, recovered in August, rising to 101.5. This was the second-highest level since August 2007 – second only to January’s 103.8 reading. The improvement in this report stemmed largely from the public’s better assessment of the labor market. For instance, 21.9 percent of respondents said that jobs were plentiful, up from 19.9 percent the month before. More importantly, the percent noting that jobs were “hard to get” fell from 27.4 percent to 21.9 percent. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Richmond Fed: Manufacturing Activity Stalled in August

The Richmond Federal Reserve Bank said that manufacturing activity stalled in August, pulling back from three months of rebounding sentiment. The composite index of general business activity declined from 13 in July to zero in August, its lowest level since April. Manufacturers reported weaker activity across-the-board, with only marginal growth in new orders (down from 17 to 1) and employment (unchanged at 1) and reductions in shipments (down from 16 to -4) and capacity utilization (down from 9 to -5) levels. There have been a number of headlines so far this year, including a strong dollar, sluggish global growth and reduced crude oil prices. These data suggest that the sector has not fully emerged from those challenges despite some progress since the spring months. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Made Possible By Manufacturing

There is nothing more exciting than the roar of a dozen engines and the wave of a flag at the start of a NASCAR race. All of that energy and excitement is made possible by manufacturing. From the engines and pistons essential in every car to the bleachers and grandstands where crowds watch the race unfold manufacturing is everywhere.

One company and NAM member, SKF has been in NASCAR Cup racing for almost 20 years bringing innovation in manufacturing and engineering expertise to its racing partners.  SKF is a global manufacturing and supplier of bearings, seals, mechatronics and lubricant systems that are used in industries ranging from machinery to NASCAR. SKF utilizes its advanced computerized modelling and simulation systems to evaluate components in these high stress, high load environments in order to improve efficiency, speed and reliability. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Markit: China’s Manufacturing Sector Slowed Once More, Down to its Lowest Level Since March 2009

The Caixin Flash China General Manufacturing PMI declined from 47.8 in July to 47.1 in August, its lowest level since March 2009. The Chinese manufacturing sector continues to struggle, with its PMI data contracting for the sixth consecutive month. Manufacturing activity was down across-the-board, including new orders (down from 47.2 to 46.3), output (down from 47.1 to 46.6), exports (down from 46.9 to 46.0) and employment (down from 47.2 to 46.0). The new orders figure was also at a post-recessionary low. Indeed, a number of economic statistics continue to reflect decelerating activity levels, particularly relative to the paces observed earlier in the year or last year. These include industrial production, fixed asset investments and retail sales. With that in mind, the Bank of China has devalued the yuan, down 2.9 percent in the past two weeks, and the Shanghai Composite Stock Market Index has plummeted more than 32 percent since June 12. Such sharp moves have prompted growth worries in financial markets around the world. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Philly Fed: Manufacturing Activity Expanded Modestly in August

The Federal Reserve Bank of Philadelphia said that growth in the manufacturing sector in its district expanded modestly in August, picking up slightly from July. The composite index of general business activity increased from 5.7 in July to 8.3 in August. While this suggests some improvement for the month, growth in activity has decelerated since June’s 15.2 reading, which was the highest level so far in 2015. The headline figure rose primarily on strength in shipments (up from 4.4 to 16.7), with 36.0 percent of respondents suggesting that their shipments were higher in August, up from 23.5 percent in July. Similarly, hiring (up from -0.4 to 5.3) accelerated somewhat, with the percentage of those completing the survey saying that employment was increased up from 12.0 percent to 21.1 percent. The average workweek (up from 4.0 to 8.5) was also longer. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Growth in Consumer Prices Slowed a Bit in July

The Bureau of Labor Statistics said that the consumer price index edged up 0.1 percent in July, slowing from the 0.4 percent and 0.3 percent paces observed in May and June, respectively. The easing in the growth of consumer prices stemmed largely from slower energy price increases, which rose 0.1 percent in July after jumping 4.3 percent and 1.7 percent in May and June.

The energy picture was more mixed than the headline figure appears. Gasoline prices increased by 0.9 percent for the month, down from much larger gains in the prior two months. Along those lines, the average price of regular conventional gasoline was $2.605 per gallon on July 27, up from $2.451 a gallon on April 27, according to the Energy Information Administration (EIA). Despite those gains, gasoline prices remain 22.4 percent lower today than one year ago. At the same time, fuel oil (down 3.4 percent), electricity (down 0.6 percent) and piped-in natural utility gas service (down 1.4 percent) helped to ease the recent increases in gasoline costs. (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


A Manufacturing Blog

  • Categories

  • Connect With Manufacturers

            
  • Blogroll