Global Minimum Tax Increase Issue

The NAM is fighting against congressional efforts to increase the minimum tax on U.S. companies’ foreign earnings above the rate recently reached by a global minimum tax deal—thereby putting globally engaged manufacturers at a significant disadvantage. The context: For a number of years, the Organisation for Economic Co-operation and Development has been leading global tax [...]

2021-10-27T11:56:10+00:00October 27th, 2021|

Manufacturing Update Sept/Oct 2021

The IHS Markit Flash U.S. Manufacturing PMI slipped from 60.7 in September to 59.2 in October, the slowest pace of growth since March. Manufacturers in the U.S. continue to cite supply chain bottlenecks and workforce shortages as significant challenges to growth. Output expanded at the weakest pace since July 2020, but employment growth edged higher [...]

2021-10-27T11:55:10+00:00October 27th, 2021|

Manufacturing Job Openings

Manufacturing job openings pulled back from a record high but remained very elevated, down from a revised 906,000 in July to 870,000 in August. It was the fifth straight month with postings that exceeded 800,000. In addition, quits in the manufacturing sector increased from 300,000 in July to 306,000 in August, a new all-time high. [...]

2021-10-27T11:57:14+00:00October 27th, 2021|

COVID-19 Vaccination Card Verification Info

I connected with RIDOH, and while they didn't recommend a full-proof way to verify, they did share the following best practices: Check to make sure their identification (driver’s license, utility bill, school records, or other documentation) matches the name on their CDC vaccine card. If included on the identification, you can also check to see [...]

2021-10-27T11:52:26+00:00October 27th, 2021|

Manufacturing Value Q2

The U.S. economy grew 6.7% at the annual rate in the second quarter. Real value-added output in manufacturing rose by an annualized 5.5% in the second quarter, with the sector accounting for 11.1% of real GDP. Manufacturing value-added output increased from $2.444 trillion in the first quarter to $2.525 trillion in the second quarter, an all-time high. [...]

2021-10-27T11:51:09+00:00October 27th, 2021|

Supply Chain Back Up in Ports

There is no end in sight to the large and ever-growing “flotilla” of container ships at and around California’s logjammed Los Angeles and Long Beach ports, according to The Wall Street Journal (subscription). Formerly smooth sailing: “Before the pandemic, it was unusual for more than one ship to wait for a berth.” As of last [...]

2021-10-27T11:49:26+00:00October 27th, 2021|

Manufacturing Production

Manufacturing production slowed significantly in August, edging up 0.1% for the month after rising by 1.6% in July. Much like the larger economy, manufacturing production has softened likely due to supply chain disruptions, workforce shortages and rising raw material costs. Still, manufacturing production has increased 5.9% over the past 12 months, or 3.2% year to [...]

2021-10-27T11:47:58+00:00October 27th, 2021|

Supply Shortages, Unvaccinated Deaths and More

A shortage of basic goods across the manufacturing sector is snarling supply chains and causing headaches for companies nationwide, according to Reuters. Why it’s happening: A range of factors has caused challenges for metals, plastics, glass, wood products and more—“everything from bulldozers to bourbon.” Supply chains have become clogged as many manufacturers try to build [...]

2021-10-27T11:47:09+00:00October 27th, 2021|

NAM Manufacturers’ Outlook Survey

In the latest NAM Manufacturers’ Outlook Survey for the third quarter, 87.5% of respondents felt either somewhat or very positive about their company outlook, down from 90.1% in the second quarter. The data are consistent with solid growth in manufacturing activity, but with some easing from more rapid paces in the second quarter, when the [...]

2021-10-27T11:45:52+00:00October 27th, 2021|
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