The IHS Markit Flash U.S. Manufacturing PMI grew at the fastest pace on record in January, making the sector a continued bright spot in the U.S. economy. New orders, exports and output expanded at the best rates since mid-2014, with employment rising at paces not seen since January 2019. Respondents remained extremely upbeat in their [...]
RIMA and Polaris have been at the forefront of providing manufacturers with information on the rapid testing program. Polaris was kind enough to gather documents for easy access: COVID-19 NATIONAL STRATEGY EO FACT SHEETS: National Strategy for COVID-19 Response Fact Sheet - Biden Takes Aggressive and Immediate Action to Contain COVID-19
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With the new PPP coming into play, we have some info sent to us by Mark Hayward District Director of SBA. PPP Form PPP Second Draw Overview Powering the American Dream Mark is urging anyone to contact the SBA office with any questions. 401-528-4540
Corporate Tax: President-elect Joe Biden has proposed raising the corporate-tax rate to 28%, up from the current 21%, alongside other measures. The new administration can shape tax policy even without a majority in Congress, for example by providing additional guidance on existing rules through the Treasury Department, said Greg Engel, vice chair for tax at professional services firm [...]
Manufacturing production increased 0.9% in December, rising for the eighth straight month. Despite gains since the spring, manufacturing production remained 2.6% below the pre-pandemic pace in February. Overall, manufacturing production fell 6.5% on average in 2020, but output should rise by the same percentage in 2021. Even as capacity remained 2.3% below what was seen [...]
PBN is currently accepting applications for their Manufacturing Awards Program. Further information can be found in the below link. https://pbn.com/events/2021-manufacturing-awards-program/
The jobs report released this morning is a mixed bag, with manufacturing adding jobs while the overall economy lost them precipitously. NAM Chief Economist Chad Moutray provided us with the manufacturing numbers from the Labor Department report: “Manufacturing added 38,000 workers in December, rising for the eighth straight month and making the sector one of [...]
The World Bank predicts that the world GDP will grow by 4.0% in 2021, bouncing back after declining 4.3% in 2020. With that said, global output will remain 5.0% below pre-pandemic levels by the end of this year. While COVID-19 and its spread remain downside risks to the economic outlook, the prospects of a vaccine [...]
Cooley Group is pleased to announce that J.H. Whitney Capital Partners (“Whitney”), in collaboration with Cooley’s executive leadership team, has acquired Cooley Group from its long-time owners, the Siener family. Whitney is a leader in the private equity industry; since their founding in 1946, they have invested in over 400 companies and currently manage approximately $1 [...]