01162018Tue
Last updateTue, 16 Jan 2018 4pm

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Manufacturing Technology Orders Increased in November

Orders for manufacturing technology climbed year over year and year to date in November 2017 according to the Association for Manufacturing Technology (AMT). Orders totaled $425.97 million for the month, up 19.0% compared to November 2016. At a cumulative total of $4.06 billion for the year, orders were up 9.4% compared to the same point in 2016.

With consumer sentiment remaining at strong levels and capacity utilization continuing to move upwards, demand for manufactured goods is expected to stay strong in the coming months. The PMI from the Institute for Supply Management rose to 59.7 in December, the 16th consecutive month of growth. 


Texas Employment Forecast Calls for 3% Growth

Texas job growth is forecast to strengthen to 3% in 2018 from an estimated 2.5% in 2017, according to the Federal Reserve Bank of Dallas. The forecast means Texas should add about 366,000 new jobs in 2018. Texas added 305,900 jobs in 2017, ranking No. 3 in the nation for job growth after falling below the national average in 2015 and 2016. The pickup was mostly due to a rebound in the energy and manufacturing sectors.

Employment growth broadened across the state’s major metro areas in 2017. Austin and Dallas posted the strongest gains, followed by San Antonio, which saw 3% growth in 2017. Houston rebounded from weakness in 2015 and 2016 and Hurricane Harvey only had a temporary impact on job growth. 

U.S. Factory Orders Rose By 1.3% in November

New orders for manufactured goods in November, up five of the last six months, increased $6.5 billion or 1.3% to $488.1 billion, the U.S. Department of Commerce reported. This followed a 0.4% October increase. Shipments, up eleven of the last twelve months, increased $5.7 billion or 1.2% to $491.2 billion. This followed a 0.8% October increase.

New orders for manufactured durable goods in November, up three of the last four months, increased $3.0 billion or 1.3% to $241.4 billion. This followed a 0.4% October decrease. 

U.S. Adds Fewer Than Expected Jobs in December

Total nonfarm payroll employment increased by 148,000 in December, and the unemployment rate was unchanged at 4.1%, the U.S. Department of Labor reported today. Employment gains occurred in health care, construction and manufacturing. In 2017, payroll employment growth totaled 2.1 million, compared with a gain of 2.2 million in 2016.

In December, manufacturing employment rose by 25,000, largely reflecting a gain in durable goods industries (+21,000). Manufacturing added 196,000 jobs in 2017, following a loss of 16,000 in 2016. 

ISM: U.S. Manufacturing Sector Strongest Since 2004

Manufacturing expanded in December as the PMI registered 59.7%, an increase of 1.5% from the November reading of 58.2%. “This indicates growth in manufacturing for the 16th consecutive month, led by strong expansion in new orders and production with hiring growing at a slower rate and supplier deliveries continuing to struggle,” says ISM Manufacturing Business Survey Committee Chair Tim Fiore.

“The past relationship between the PMI and the overall economy indicates that the average PMI for January through December (57.6%) corresponds to a 4.5% increase in real GDP on an annualized basis.” 

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