Earlier this month, I shared two articles with my network on LinkedIn: Manufacturing in U.S. Expands at Close to Seven-Year High from Bloomberg Business News, and UK Manufacturing Grows at Fastest Pace in 16 Years from BBC Business News.
While the headlines alone are enough to bring smiles to the faces of those working in discrete manufacturing, an industry that for far too long has been dealing with the realities and repercussions of the recession, the meat within is even better.
For those who did not see these stories when they were originally published, or did not read past the headline, I’ve shared ten stats and facts below – sure to make anyone working in discrete manufacturing happy:
1. Fastest Pace In Almost Seven Years For US Manufacturers
As could be gleaned from the first headline above, manufacturing in the US is off to an extremely lucrative start this year, closing March at its fastest pace in almost seven years.
2. UK Manufacturing Output Up 6.8%
According to the Office for National Statistics (ONS) in the UK, manufacturing output since January of last year is at its strongest pace since October 1994.
3. Overseas Demands Are Rising
Rising demand overseas for everything from construction equipment to manufacturing machinery is boosting bottom-line results for major US manufacturers, including Caterpillar, Inc. and United Technologies Corp.
4. China’s Growth Is Accelerating
For the first time in four months, China’s manufacturing growth is on the up, a significant milestone for the world’s hottest retail growth market.
5. 24 Months Of Growth In India
Not to be outdone by China, India (named by CNBC as the third highest retail growth market) has now experienced manufacturing growth for two years.
6. Russia’s Factory Output at 5 Year High
Approaching its highest level in almost five years, Russia’s factory output gauge has risen to a peak of 55.6.
7. Factory Expansion At Its Highest Pace Since ’84
Per The Federal Reserve Bank of Philadelphia’s index, factory expansion is at its fastest pace since 1984.
8. Car Sales On Pace for 13.8 Million
Achieving its highest levels since the government’s Cash for Clunkers program, February car sales rose to a 13.8 million unit pace.
9. Construction Equipment Demand Increasing Steadily
Caterpillar CEO Doug Oberhelman quotes his company’s growth as ‘slow and steady’, as of this March.
10. Jobs Gains in US Manufacturing!
Critical to sustaining discrete manufacturing growth will be increases in job gains – a metric I am proud to say is continuing to improve, per the articles above.
I encourage you to read both articles above – and of course – to share the good news you see for the manufacturing industry via a comment below.
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I agree your 10 facts………
Hey thanks for the information. I would have to agree as well. While things are not going great everywhere, there are some very positive things going on abroad. Hopefully these trends move to the US. Dave