Items Tagged with 'manufacturing forecast'

With the election in the rearview mirror, assemblers are poised to invest in their operations again.

U.S. manufacturers have faced significant headwinds this year: supply chain problems, a skilled labor shortage, inflation, and the war in Ukraine. And yet despite these issues—or perhaps, because of them—manufacturers continued to invest in people, plants and equipment.

In February 2020, U.S. manufacturers employed nearly 12.8 million people. Then came the COVID-19 pandemic. In an instant, the country lost 1 million manufacturing jobs as governments and businesses scrambled to figure out how best to stop the spread of the disease.

U.S. manufacturing continued to roll in 2017. Want proof? Look no further than Toyota Motor Corp. In September, the world’s largest automaker announced that it will invest $374 million at five U.S. factories.

Overall, 2016 has been a pretty good year for U.S. manufacturing. In every industry covered by ASSEMBLY magazine, manufacturers were investing in people, plants and equipment.

With automotive and aerospace manufacturing going strong, our annual Capital Equipment Spending Survey predicts continued growth in investment.

Economic activity in the manufacturing sector expanded in October for the fifth consecutive month, and the overall economy grew for the 53rd consecutive month, according to the latest data from the Institute for Supply Management.