{"id":2950,"date":"2019-06-06T10:25:56","date_gmt":"2019-06-06T10:25:56","guid":{"rendered":"https:\/\/www.mrpeasy.com\/blog\/?p=2950"},"modified":"2024-02-06T13:38:22","modified_gmt":"2024-02-06T13:38:22","slug":"week-23-in-manufacturing-news","status":"publish","type":"post","link":"https:\/\/www.mrpeasy.com\/blog\/week-23-in-manufacturing-news\/","title":{"rendered":"Week 23 in Manufacturing News"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Manufacturing profits rose 7.2% in the first quarter, from the previous period<\/h3>\n\n\n\n<!--more-->\n\n\n\n<p>U.S manufacturing companies\u2019 seasonally adjusted after-tax profits rose 7.2%, or by $11 billion, to $164.2 billion in the first quarter of 2019, from $153.2 billion in the fourth quarter of 2018, according to the&nbsp;U.S. Census Bureau<strong>.<\/strong>&nbsp;The profits increased by 4.7%, or by $7.3 billion, from $156.9 billion in the first quarter of 2018.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/talkbusiness.net\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\" (opens in a new tab)\">Talk Business<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Manufacturing shrinks as Brexit stockpiling halts<\/h3>\n\n\n\n<p>The UK manufacturing sector contracted in May for the first time since July 2016 as stockpiling eased ahead of Brexit, an influential survey shows.<\/p>\n\n\n\n<p>The research,<a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/eafabe8382054b868b618dcf6f0b98d8\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\" (opens in a new tab)\">&nbsp;by IHS Markit\/CIPS<\/a>, said firms found difficulty convincing clients to commit to new contracts.<\/p>\n\n\n\n<p>The manufacturing Purchasing Managers&#8217; Index (PMI) was 49.4, down from 53.1 in April when it was lifted by stockpiling ahead of the UK&#8217;s expected EU exit. Any reading below 50 indicates contraction. The last time there was reading below 50 was the month after the EU referendum.<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/www.bbc.com\/news\/business-48497083\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\" (opens in a new tab)\">BBC<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"article-headline\">German manufacturing orders rise slightly<\/h3>\n\n\n\n<p>German manufacturing orders picked up slightly in April, the second month of growth as foreign demand rose, data from the Federal Statistical Office showed Thursday.<\/p>\n\n\n\n<p>Orders in the manufacturing sector have stabilized at a low level in the last two months as foreign demand picked up, the German economics ministry said. &#8220;Industrial activity is likely to remain subdued in the second quarter,&#8221; it added.<\/p>\n\n\n\n<p>Total orders for the key sector rose 0.3% month-on-month, whereas economists polled by The Wall Street Journal last week expected a 0.1% rise. <\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener nofollow\" aria-label=\"MarketWatch (opens in a new tab)\" href=\"https:\/\/www.marketwatch.com\/story\/german-manufacturing-orders-rise-slightly-2019-06-06\" target=\"_blank\">MarketWatch<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Things You Need To Know About IIoT In Manufacturing<\/h3>\n\n\n\n<p>These and many other fascinating insights are from&nbsp;<a rel=\"noreferrer noopener nofollow\" href=\"https:\/\/iot-analytics.com\/?utm_source=Forbes&amp;utm_medium=newsstory&amp;utm_campaign=IIoTforManuf\" target=\"_blank\">IoT Analytics\u2019<\/a>&nbsp;study,&nbsp;<a rel=\"noreferrer noopener nofollow\" href=\"https:\/\/iot-analytics.com\/product\/iiot-platforms-manufacturing-market-report-2019-2024\/?utm_source=Forbes&amp;utm_medium=newsstory&amp;utm_campaign=IIoTforManuf\" target=\"_blank\">IIoT Platforms For Manufacturing 2019 \u2013 2024<\/a>&nbsp;(155 pp., PDF, client access reqd).<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Discrete manufacturing is predicted to be the largest percentage of Industrial IoT platform spending for 2019, growing at a CAGR of 46% from 2018.<\/li>\n\n\n\n<li>IIoT platforms are beginning to replace MES and related applications, including production maintenance, quality, and inventory management, which are a mix of Information Technology (IT) and Operations Technology (OT) technologies.<\/li>\n\n\n\n<li>Global spending on IIoT Platforms for Manufacturing is predicted to grow from $1.67B in 2018 to $12.44B in 2024, attaining a 40% compound annual growth rate (CAGR) in seven years.<\/li>\n\n\n\n<li>Manufacturers are most relying on IIoT platforms for general process optimization (43.1%), general dashboards &amp; visualization (41.1%) and condition monitoring (32.7%).&#8217;<\/li>\n<\/ul>\n\n\n\n<p> Source: <a rel=\"noreferrer noopener nofollow\" href=\"https:\/\/www.forbes.com\/sites\/louiscolumbus\/2019\/06\/02\/seven-things-you-need-to-know-about-iiot-in-manufacturing_updated\/#223d8c625f56\" target=\"_blank\">Forbes<\/a>.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><em>You might also be interested in <a href=\"https:\/\/www.mrpeasy.com\/blog\/manufacturing-erp-and-industry-4-0\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Manufacturing ERP and Industry 4.0 (opens in a new tab)\">Manufacturing ERP and Industry 4.0<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manufacturing profits rose 7.2% in the first quarter, from the previous period<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56],"tags":[3,57],"class_list":["post-2950","post","type-post","status-publish","format-standard","hentry","category-news","tag-manufacturing","tag-manufacturing-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Week 23 in Manufacturing News - Blog for Manufacturers and Distributors<\/title>\n<meta name=\"description\" content=\"Manufacturing news week 23 MRPeasy is a cloud-based self-service production planning MRP software for small manufacturers (10-200 employees). 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