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Daily news and top headlines for manufacturing professionals

Economists Predict Continued MI Job Growth

November 21, 2014 11:06 am | by The Associated Press | News | Comments

Michigan's economy will continue to improve over the next two years after five years of steady job growth, University of Michigan economists said Friday in an annual forecast. In their November outlook, George Fulton, Joan Crary and Donald Grimes predicted that the state will add a total of more...

Can Low Oil Prices Be Good For The Environment?

November 21, 2014 10:30 am | by Jonathan Fahey, AP Energy Writer | News | Comments

Deepwater drilling rigs are sitting idle. Fracking plans are being scaled back. Enormous new projects to squeeze oil out of the tar sands of Canada are being shelved. Maybe low oil prices aren't so bad for the environment after all. The global price of oil has plummeted 31 percent in just five months, a steep...

MN Unemployment Rate Continues To Fall

November 21, 2014 10:12 am | by The Associated Press | News | Comments

Minnesota's unemployment fell to an eight-year low in October, dropping to less than 4 percent, and the state has added nearly 50,000 jobs so far this year, according to state employment data released Thursday. Marking a steady trend in the state, seasonally adjusted employment figures show that 3.9 percent...

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U.S. Consumer Prices Unchanged In Oct

November 20, 2014 4:00 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. consumer prices were unchanged in October as a fourth straight decline in gasoline costs helped to keep inflation at bay. The steady reading for inflation last month followed a tiny 0.1 percent increase in September and a 0.2 percent drop in August, the Labor Department said...

NAM: Coalition Representing U.S. Economy Calls For Extension Of Temporary Tax Provisions

November 20, 2014 1:51 pm | by Jamie Hennigan, National Association of Manufacturers | News | Comments

More than 500 organizations representing millions of individuals, businesses of all sizes and community development and nonprofit organizations delivered a letter to Congress today urging policymakers to work together during the lame-duck session to extend seamlessly, enhance...

Applications For U.S. Unemployment Benefits Fall To 291K

November 20, 2014 1:45 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

The number of people applying for U.S. unemployment benefits declined slightly last week, suggesting that job gains should remain solid. Weekly applications for jobless aid fell 2,000 to a seasonally adjusted 291,000, the Labor Department said Thursday. The four-week average, a...

Gauge Of U.S. Economy Posts 0.9% October Gain

November 20, 2014 11:12 am | by Martin Crutsinger, AP Economics Writer | News | Comments

An index designed to predict the future health of the economy rose in October at the fastest pace in three months. The Conference Board said Thursday that its index of leading indicators increased 0.9 percent last month following a 0.7 percent rise in September, which had been initially reported...

Philly Area Factories Growing By Most In 21 Years

November 20, 2014 10:33 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Manufacturing in the Philadelphia region grew at the fastest pace in nearly 21 years, a sign that factory output may be picking up nationwide. The Federal Reserve Bank of Philadelphia says its index of regional factory activity jumped to 40.8 in November from 20.7 in...

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China Manufacturing Activity At 6-Month Low

November 19, 2014 10:07 pm | by Kelvin Chan, AP Business Writer | News | Comments

Manufacturing activity in China fell to a six-month low in November, reflecting sluggishness in the world No. 2 economy and weakness abroad, according to an early survey of factory conditions released Thursday. HSBC's preliminary purchasing managers' index fell to 50.0 this month from 50.4 in...

OR Employers Add 9.9K Jobs In October

November 18, 2014 2:09 pm | by Jonathan J. Cooper, The Associated Press | News | Comments

State figures show that Oregon employers went on a hiring spree this fall, adding nearly 10,000 jobs in October. The state Employment Department said Tuesday that's the largest one-month gain in jobs since August 1995, when more than 10,400 jobs were added. The agency said hiring was...

Cisco CEO Critical Of Net Neutrality

November 17, 2014 2:09 pm | by CNN Money | Videos | Comments

Cisco CEO John Chambers says regulation of Internet service providers could hinder development and growth. CNN Money talks with Chambers about net neutrality, and the growth of digital abilities in various countries around the world....  

'Red Warning Lights' Flashing For Global Economy

November 17, 2014 1:56 pm | by Danica Kirka, The Associated Press | News | Comments

The global economy's problems seem to be multiplying.Hours after the leaders of the world's 20 most developed economies sought to boost confidence by promising to increase global output by $2 trillion over five years, Japan said it had fallen into recession...

U.S. Factory Production Rises 0.2%, Slowdown In Auto Limits Growth

November 17, 2014 9:32 am | by Josh Boak, AP Economics Writer | News | Comments

U.S. manufacturing output grew modestly in October, as autoworkers churned out fewer cars and trucks. The Federal Reserve says output at manufacturing plants rose 0.2 per cent in October. Gains came from the rising demand for machinery, plastics, clothing and...

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NY Manufacturing Grows At Faster Pace

November 17, 2014 9:07 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Manufacturers in New York grew at a faster pace in November and their expectations for future growth rose to the highest level in nearly three years. The Federal Reserve Bank of New York says its Empire State Manufacturing index rose to 10.2 in November from 6.2 the previous month. It reached a...

What Japan's Recession Means For Country, World

November 17, 2014 1:05 am | by The Associated Press | News | Comments

In a surprise, Japan said its economy, the world's 3rd-biggest following the U.S. and China, contracted 1.6 percent at an annual pace in the July-September quarter as consumer and corporate spending failed to regain momentum after a sales tax increase in April. Here are some implications for the...

Auto Industry Builds New-Look River Region Economy

November 16, 2014 10:06 am | by Brad Harper, The Montgomery Advertiser | News | Comments

Long reliant on state jobs and military money, Montgomery shifted gears in 2002 when Hyundai announced it would open its first America production plant here. Since then, the River Region has built its present and future on the sturdy back of an ever-growing manufacturing network. The $1.7...

Cold Front Helps Wake Up Wheat And Corn Prices

November 14, 2014 1:10 pm | by Steve Rothwell, The Associated Press | News | Comments

Wheat and corn prices are surging this week as temperatures plunge in the U.S. Plains states and after a government report showed domestic supplies slipped.                           

Price Of Oil Takes Another Sharp Drop

November 14, 2014 12:28 pm | by Jonathan Fahey, The Associated Press | News | Comments

The price of oil took another sharp tumble Thursday as it appeared increasingly unlikely that OPEC members will cut production to reverse a plunge that is entering its fifth month.                    

October Budget Deficit Rises To $121.7B

November 14, 2014 12:16 pm | by Martin Crutsinger, The Associated Press | News | Comments

The federal government started the new budget year with a higher deficit in October than a year ago, but the increase reflected quirks in the calendar rather than a deterioration in the government's budget outlook.           

U.S. Business Inventories Up 0.3 Percent

November 14, 2014 10:19 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. businesses added to their stockpiles at a faster rate in September, though sales remained weak.                         

U.S. Retail Sales Rise On Autos, Online Purchases

November 14, 2014 9:56 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. retail sales rose at a modest pace in October, evidence that recent job gains and lower gas prices are lifting consumer spending.                    

NC Employers Avoid More Federal Unemployment Taxes

November 12, 2014 5:01 pm | by The Associated Press | News | Comments

North Carolina businesses won't have to pay even higher unemployment insurance taxes beyond what's required while the state still owes the federal government money to pay jobless benefits during the Great Recession. The U.S. Department of Labor told Gov. Pat McCrory this...

Purdue Economist: Turkeys Will be More Expensive This Year

November 12, 2014 4:52 pm | by The Associated Press | News | Comments

A Purdue University agricultural economist says Thanksgiving food shoppers will find adequate supplies of turkeys but possibly at higher prices, depending on the type and whether grocers pass increases on to customers. Corinne Alexander tracks food...

Retail Imports Set Records Despite Continuing Port Issues

November 12, 2014 4:46 pm | by J. Craig Shearman, National Retail Federation | News | Comments

Import cargo volume at the nation’s major retail container ports is expected to slow down this month following record levels seen in September and October as retailers rushed to bring merchandise into the country ahead of a possible shutdown of West Coast ports, according to...

IN Lawmakers Recommend Cutting Equipment Tax

November 12, 2014 3:13 pm | by Tom LoBianco, The Associated Press | News | Comments

A panel of Indiana lawmakers is recommending the state eliminate the business equipment tax for small businesses. The panel studying Indiana's business personal property tax included the recommendation with a series of other proposals in its final report released Wednesday. Gov. Mike Pence...

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