Manufacturing Contributed $2.895 Trillion to the U.S. Economy in Q4

The U.S. economy grew 2.6% at the annual rate in the fourth quarter. Real GDP in the manufacturing sector rose by an annualized 5.5% in the third quarter, adding 0.49 percentage points to headline real GDP growth in the third quarter. Manufacturing value-added output increased to $2.895 trillion in the fourth quarter, an all-time high, [...]

2023-04-05T10:46:23+00:00April 5th, 2023|

Programs For Manufacturers

IMMERSION PROGRAM:  The funds for the Immersion program has approximately $300,000 left with a expiration date of  06/30/2023.  This program was initially funded with $1,163,242 dollars.  Attached is information on the program.  Manufacturers are the largest sector using this program. Work Immersion | Governor's Work Board ( INCUMBENT WORKER TRAINING PROGRAM: The funds for this [...]

2023-04-07T12:06:37+00:00April 5th, 2023|

Manufacturing Shows Slowdown

The U.S. manufacturing sector slumped to a nearly three-year low in March, with the ISM® Manufacturing Purchasing Managers’ Index® falling to 46.3 from 47.7 in February. Any reading under 50 indicates contraction. New orders: New orders were down for the seventh consecutive month, to 44.3 from 47.0, with notably weak demand cited by manufacturers. Hiring [...]

2023-04-05T10:44:39+00:00April 5th, 2023|

Financial Concerns?

After peaking at $8.965 trillion in mid-April 2022, the Federal Reserve’s balance sheet declined to $8.340 trillion at the beginning of March. With stress in financial markets resulting from the failure of select regional banks in the U.S. and uncertainties abroad, the Federal Reserve created new lending facilities to ensure adequate liquidity in the banking [...]

2023-04-05T10:43:49+00:00April 5th, 2023|

What’s going on: Jobs

Manufacturers hired 417,000 workers in January, an increase from 405,000 in December.Total separations—quits, firings, layoffs and retirements—increased to 399,000 from December’s 384,000. Net hiring—hiring minus separations—totaled 18,000 in January. This is down from 32,500, the net-hiring average for the past year.   The bigger picture: January’s numbers are down from the average of the past [...]

2023-04-05T10:42:57+00:00April 5th, 2023|

Factory Shipments

Factory shipments jumped 0.7% after declining in both November and December. Excluding transportation equipment, shipments of manufactured goods rose 1.2% for the month. Total factory shipments rose 6.2% in the past year, or 4.7%, excluding transportation equipment. … Shipments have dipped 0.4% since June, a decrease of 2.0%, excluding transportation equipment. The number of manufacturing [...]

2023-04-05T10:41:45+00:00April 5th, 2023|

Economy Status

Private manufacturing construction jumped 6.0% to a record $139.4 billion in January. Private construction in the sector has trended strongly higher since bottoming out at $72.46 billion in February 2021. Over the past 12 months, activity has soared 53.8%. The ISM® Manufacturing Purchasing Managers’ Index® contracted for the fourth straight month but inched up from a [...]

2023-04-05T10:40:53+00:00April 5th, 2023|
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