Women Comprise Less Than One-Third of the US Manufacturing Workforce

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According to a recent Industry Week article, manufacturing needs more women: “But there’s a major issue facing the manufacturing industry today – an estimated two-million-worker shortfall over the next decade. Currently, women make up less than one-third (29%) of the overall U.S. manufacturing workforce.”

But what are we doing to promote manufacturing careers to women? The article explores the industry’s opportunity to educate, train and recruit more female workers by profiling three women in manufacturing leadership positions and the advice they have for other women interested in pursuing industrial careers.

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Year-over-Year US Industrial Production Increased by 3.2% in July 2018

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From ISA/ITR:

US Industrial Production during the 12 months through July was up 3.2% from the same period one year ago. Activity is rising at an accelerating pace in each of the three major components. The largest, US Total Manufacturing Production, was up 2.2%. Meanwhile, US Mining Production was up 10.6%, and US Electric and Gas Utilities Production was up 2.8%. Growth in US Industrial Production will persist through the remainder of 2018, although we expect the pace of rise to slow by the end of the year. Plan for mild contraction in 2019.

The US industrial economy is benefiting from accelerating growth in Exports, which were up 8.1% on a year-over-year basis. However, the US dollar is strengthening, which signals that Production will transition to the back side of the business cycle in the near term as the benefits of a weakened dollar fade for Exports. Retaliatory tariffs implemented by major trade partners such as China, Canada, and Mexico also pose a downside risk to Exports. We are monitoring these developments closely and will provide updates to our outlooks as more information becomes available.

The US Consumer Comfort Index Reaches 17-year High

According to a recent Industry Week article, the US economy is on solid ground, with the Consumer Comfort Index reaching 17-year high in September.

A string of reports on Sept. 20 showed the labor market is getting stronger, consumers are increasingly optimistic and manufacturers are expanding, adding to signs that gross domestic product remains on track for a solid performance in the third quarter.

A gauge of manufacturing from the Federal Reserve Bank of Philadelphia rebounded by more than projected in September from the lowest level in almost two years, as orders, shipments and employment picked up. At the same time, price pressures are easing, as a gauge of input prices fell to the lowest since January.

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U.S. Manufacturing was august in August--with 3.2% growth

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According to a recent MDM article, the Institute for Supply Management's Purchasing Manager’s Index increased 3.2 percentage points during the month to a reading of 61.3. This was its highest level since May 2004, when the index reached a reading of 61.4.

ISM said the results indicate strong growth in manufacturing for the 24th straight month, led by continued expansion in all of the Report’s subindexes. A PMI above 50 percent indicates the manufacturing economy is expanding; a reading below 50 percent indicates it is contracting. ISM said the results show that the overall economy grew for the 112th straight month in August.

Click here to see the article.

U.S. GDP Rose 4.2% in the 2nd Quarter of 2018

Real Gross Domestic Product increased 4.2 percent in the second quarter, according to the second estimate from the Bureau of Economic Analysis. The growth rate was 0.1 percentage point more than the “advance” estimate released in July. In the first quarter, real GDP increased 2.2 percent.

Real gross domestic income increased 1.8 percent in the second quarter, compared with an increase of 3.9 percent in the first quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 3.0 percent in the second quarter, compared with an increase of 3.1 percent in the first quarter.

For more information, view the entire story on MDM.com.

 

June Industrial Wholesale Revenues up 10.2%; Durable Goods up 9.9%; and Inventories up 5.1% over 2017

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According to MDM, wholesale revenues in June were $506.7 billion, up 10.2 percent from June 2017 and down 0.1 percent from May. June sales of durable goods were up 0.2 percent over last month and up 9.9 percent from a year ago. Sales of nondurable goods were down 0.3 percent over May and up 10.6 percent from last June.

Inventories were $632.4 billion at the end of June, up 0.1 percent from the revised May level and up 5.1 percent from last year. June inventories of durable goods were up 0.8 percent from last month and up 6.2 percent from a year ago. Inventories of nondurable goods were down 1 percent from May and up 3.3 percent from last June.

For more information, click here.

8 Reasons Why Email Marketing Still Reigns Supreme for B2B

According to a recent MarketingProfs article, despite all the marketing channels that have emerged in the past two decades, email has succeeded in holding its ground. It remains one of the most effective tools that marketers have to reach both prospects and customers.

How has email withstood the test of time? This interactive infographic by email design and HTML-coding company Email Monks gives eight reasons for email's effectiveness:

1. It drives conversions.
2. Its efforts are measurable.
3. It reaches customers in real-time and can be personalized.
4. It works at every stage of the buyer's journey.
5. Many of its processes can be automated, freeing up marketers' time.
6. It is continually being updated with interactivity and animation.
7. It's a prime channel for testing.
8. It's a permission-based channel

Click here for the article and another infographic.

 

The US ranks 2nd in global manufacturing output at $1.867 trillion

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The Brookings Institution has released its Global Manufacturing Scorecard. According to the report, the US ranks second to China in terms of annual manufacturing output, at $1.867 trillion. China produced $2.01 trillion. Japan was third, at $1.063 trillion.

Click on the here for full rankings and to see how the US compares to 18 other nation in five other dimensions of the manufacturing environment: 1) overall policies and regulations; 2) tax policy; 3) energy, transportation, and health costs; 4) workforce quality; and 5) infrastructure and innovation.