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Kansas City Fed Reported Increased Manufacturing Activity in November

The Federal Reserve Bank of Kansas City said that manufacturing activity picked up somewhat in its district in November. The composite index rose from 4 in October to 7 in November, its highest level in four months. Along those lines, the pace of production (up from 3 to 9), shipments (up from zero to 7) and employment (up from 6 to 9) improved for the month. In addition, export sales (up from -9 to 8) were positive for the first time since April. Yet, growth remains far from robust, with new orders (down from 2 to 1) decelerating for the fourth consecutive month and just barely above neutral. (continue reading…)

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NAM Partners with Global Business Dialogue to Promote Environmental Goods Agreement

This morning the NAM and the Global Business Dialogue hosted a discussion about the Environmental Goods Agreement (EGA) negotiations underway at the World Trade Organization (WTO). NAM’s Linda Dempsey, Vice President for International Economic Affairs, spoke about the benefits to manufacturing of a broad EGA, mentioning that, “increased trade and global engagement is vital for our manufacturers. With only a 9 percent share of the global $11 trillion market in manufactured goods trade outside our borders, manufacturers can and should be able to expand commercial opportunities.

(continue reading…)

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Manufacturers support H.R. 4795, the Promoting New Manufacturing Act

The Environmental Protection Agency (EPA) is just weeks away from proposing a new ozone standard that the NAM estimates could impose over $2 trillion in compliance costs for manufacturers. With so much at stake, manufacturers need improvements to the air permitting process so that when these new standards take hold we can still get our permits and operate our facilities. We support H.R. 4795, the Promoting New Manufacturing Act, which is on the House floor this morning.  (continue reading…)

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NAM Hosts Shopfloor Briefing on Investment Week

On Friday, November 14th, the NAM wrapped up “Investment Week” with a Shopfloor Hill briefing held in the Rayburn House Office Building which focused on the importance of the investment tax incentives that are currently part of the “tax extenders” debate. (continue reading…)

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NAM Hosts Shopfloor Briefing on Investment Week

On Friday, November 14th, the NAM wrapped up “Investment Week” with a Shopfloor Hill briefing held in the Rayburn House Office Building which focused on the importance of the investment tax incentives that are currently part of the “tax extenders” debate. (continue reading…)

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Monday Economic Report – November 17, 2014

Here is the summary for this week’s Monday Economic Report: 

Manufacturers produced $2.085 trillion in value-added in the second quarter, according to new data from the Bureau of Economic Analysis. That figure is continued evidence that the manufacturing sector has a significant impact on economic activity, accounting for 12 percent of GDP. Moreover, the sector added 0.81 percentage points to second-quarter real GDP growth, which rebounded by 4.6 percent after weakness in the first quarter. This suggests that manufacturers had an outsized impact on economic growth in the second quarter, with only the professional and business services sector having a larger contribution to real GDP. (continue reading…)

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Global Manufacturing Economic Update – November 14, 2015

Here is this month’s Global Manufacturing Economic Update:

The global economy has seen its share of challenges this year. These include deflationary worries in Europe, decelerating growth in China and declining activity in South America, among others. Along those lines, the Bank of Japan announced on October 31 that it would increase the amount of its monthly asset purchases, stepping up its quantitative easing program in an effort to spur faster growth. As we noted in last month’s report, the United States fares pretty well in comparison. The International Monetary Fund slightly downgraded its global outlook, with world output now estimated to expand by 3.3 percent and 3.8 percent in 2014 and 2015, respectively. Yet, it raised its estimates for real GDP growth in the United States in 2014 from 1.7 percent to 2.2 percent. (continue reading…)

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Manufacturers Hired at the Fastest Pace in Nearly Four Years in September

The Bureau of Labor Statistics said that manufacturers hired 280,000 workers in September, a sharp uptick after the soft 236,000 hires observed in August. The September figure was the fastest pace since November 2010, or nearly four years.

At the same time, the number of manufacturing separations – including layoffs, firings and retirements – also increased, rising from 237,000 to 268,000. Therefore, there were 12,000 net new hires (or hires minus separations) in September, an improvement from the net loss of 1,000 manufacturing employees in August. In addition, net hiring has averaged 15,600 per month over the past five months (May to September), progress from the 5,000 average over the five months prior to that (December to April). (continue reading…)

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Make the R&D Credit Permanent Now

Ever wonder why the R&D credit is so important and why it needs to be made permanent? Well, if you have two minutes to spare, you can learn exactly why a permanent R&D credit would boost US innovation and jobs by watching The Tech CEO Council’s “Make the R&D Tax Credit Permanent” video. The video calls on Congress to make the credit permanent once and for all. The NAM agrees — it’s time to give manufacturers the certainty they need to once again make the US the world’s leading innovator. Click here to watch the video, and help spread the word that the R&D credit should be reinstated and made permanent now.

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Veterans Are Critical to Success of Manufacturing

Tomorrow is Veteran’s Day. A day we set aside to honor and celebrate the men and women who have given service to our nation in the Armed Forces. This one day is rightfully dedicated to them in gratitude, but manufacturers believe our nation’s veterans deserve our support the other 364 days of the year as well. The challenge for members of the armed services transitioning out of service and into the private sector is often translating how those skills are valuable to the private sector. (continue reading…)

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