Factory Orders Increased Again

New orders for manufactured goods increased 1.6% from October to November, from $523.4 billion to a record $531.8 billion, according to the U.S. Census Bureau. The figure marks the seventh straight month of increases. Equipment orders up: In the same period, transportation equipment orders rose 6.5%, “buoyed by a sharp rise in nondefense aircraft and [...]

2022-01-11T10:12:02+00:00January 11th, 2022|

Labor Market Quits Hit Record High

There were 858,000 manufacturing job openings in November, down from a record 955,000 in October. While the pace of job postings decelerated somewhat, it was the eighth straight month with openings that have exceeded 800,000, averaging 887,000 over that time frame. Nonfarm business job openings eased from 11,091,000 in October, which was the second highest [...]

2022-01-11T10:11:22+00:00January 11th, 2022|

US Manufacturing Inventories

Manufacturers are finally making a little headway in rebuilding depleted inventories, a process that will continue to drive economic growth well into 2022. Consumers are strained by high inflation, but they’re still spending and contributing to growth. The housing market has stopped weighing on overall GDP growth after two quarters in which it detracted from [...]

2022-01-11T10:10:24+00:00January 11th, 2022|

December RI Employment Status

Current Employment Stats (CES) Three trends: “Three kinds of trends … are coming together to produce a very different situation by the year 2030,” said Guillen, the author of “2030: How Today’s Biggest Trends Will Collide and Reshape the Future of Everything.” He categorized them as “population trends, trends about emerging markets and technological trends.” [...]

2022-01-11T10:09:46+00:00January 11th, 2022|

End of Year Economic Report 2021

In the latest NAM Manufacturers Outlook Survey, 86.8% of respondents felt either somewhat or very positive about their company outlook in the fourth quarter, down only slightly from 87.5% in the third quarter. While many of the key measures pulled back somewhat, expected growth rates remained solid. With a strong labor market, respondents anticipate employee [...]

2022-01-11T10:02:58+00:00January 11th, 2022|

Global Semiconductor Shortage

For now, there’s only so much policymakers can do to speed up production. Most semiconductors are manufactured in Asia, and deliveries are being hindered by everything from COVID-19 impacts to natural disasters. According to Boerstling, the eventual goal should be to create a robust semiconductor industry in the United States so that U.S. manufacturers are [...]

2022-01-11T09:59:08+00:00January 11th, 2022|

Manufacturing Production Rose to Best Level since 2018

Manufacturing production rose 0.7% in November, improving to the best level since December 2018. Manufacturing capacity utilization increased to 77.3% in November, also the strongest since December 2018. Overall, manufacturing production has risen 4.6% year-over-year, with 2.0% growth relative to February 2020’s pre-pandemic pace. Total industrial production rose 0.5% in November, the strongest reading since [...]

2022-01-11T09:57:34+00:00January 11th, 2022|

House Approves Bipartisan Bill to Strengthen Shipping

NAM announces that the U.S. House of Representatives overwhelmingly approved H.R. 4996, the Ocean Shipping Reform Act of 2021, to fortify oversight of the shipping supply chain, according to The Hill. What it does: The bill includes a number of elements that stand to benefit U.S. shippers and may help ease some of the supply chain [...]

2022-01-11T09:56:43+00:00January 11th, 2022|
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