Week 16 in Manufacturing News
The gloom hanging over the world economy is confined to manufacturing
Pessimism about the world economy has grown throughout 2019. Disappointing data, tumbling bond yields, the trade war between China and America and political crisis in Britain have all played a part. Economic weakness has been contained mostly to manufacturing.
Source: The Economist.
US manufacturing output unchanged in March
The Federal Reserve said on Tuesday manufacturing production last month was restrained by weak motor vehicle output. Data for February was revised up to show output at factories falling 0.3 percent instead of declining 0.4 percent as previously reported.
U.K. Manufacturing Chief Sees ‘No Good News’ in Brexit Extension
The latest Brexit delay means more uncertainty, frozen investment and lost customers for U.K. manufacturers. That’s the verdict of Stephen Phipson, who represents 5,000 companies as chief executive officer of the MakeUK industry lobby group.
More than 70 percent of MakeUK’s members have frozen investment as they divert cash to building up inventories in case a no-deal Brexit strangles supply lines, according to Phipson.
IOT in Discreet Manufacturing Market is Determined to Exceed US$ 76 Billion by 2024
Companies are quickly moving to understand what role this technology will have in their futures. Manufacturers have the opportunity to adapt processes with IoT to lower costs, optimize operations, reduce resource consumption, improve productivity, enhance customer service, and manage the supply chain.
The discrete manufacturing industry is now known for mechanization, sensors and utilization of new technologies, and is set up to use the advantages of IoT in accomplishing an upper hand over other manufacturing firms.
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Video: Economy could be weaker than expected, and the reason is manufacturing
Industrial production was negative in the first quarter, a signal that first quarter growth could be weaker than expected, says Joseph LaVorgna, Natixis chief economist Americas.