Last updateWed, 25 Nov 2020 4pm

Pessimism in US Over Prospects for Future Growth

Nearly 80% of senior executives at small and medium-size US manufacturing companies are pessimistic about the prospects for economic growth, according to a survey to be published tomorrow. Attitudes within the sector towards the benefits of globalization have also deteriorated markedly since last year.

Source: Financial Times

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Department of Labor Reports Big Job Cuts in Construction, Manufacturing for June

The U.S. lost 43,000 construction jobs last month, according to the June jobs report from the Department of Labor.

The net loss of 493,000 construction jobs since 2007 nearly equals the amount of jobs lost in the manufacturing industry — which is almost twice the size of the construction industry — during the same time period, according to the Bureau of Labor Statistics.

Source: Washington Business Journal

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Manufacturing Picks Up in June, ISM Survey Shows

The Institute for Supply Management reported Tuesday that its factory index rose to 50.2% in June from 49.6% in May.

Norbert Ore, who oversees the ISM survey and also serves as Georgia-Pacific Corp.'s procurement director, said manufacturing seems to be holding up "amazingly well."

Source: Market Watch

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Levin: NAM Should Help Enable Swift Passage of Tax Extender Bill in Senate

Recently, National Association of Manufacturers (NAM) President John Engler commented on “extenders” legislation currently being considered in Congress, including a provision to extend the research and development (R&D) tax credit.  In response to those comments, U.S. Representative Sander Levin (D-MI), a senior member of the Ways and Means Committee and author of legislation to expand and make the R&D credit permanent, sent a letter to Governor Engler.

Source: House Ways and Means Committee

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Essay: 5 Myths About the Death Of the American Factory

Sure, U.S. banking is in trouble, but the longer-term and possibly more damaging threat to the nation's prosperity is the decline of the manufacturing sector. Late last year, the number of U.S. manufacturing jobs dropped below 14 million for the first time since 1950.

Source: Washington Post

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