Obama sent Congress a $3.9 trillion budget that would funnel money into road building, education and other economy-bolstering programs.
“Though the southeastern Michigan economy has slowed a bit, there’s no reason to believe that this is a long-term slowdown, at most it could be described as a temporary cooling of the economy,” said Timothy Butler, associate professor of supply chain management at Wayne State’s School of Business Administration.
A monthly economic survey index dropped slightly last month but still suggests growth over the next three to six months for nine Midwestern and Plains states.
Inventories had gotten well ahead of demand in the latter months of 2013. While it appears that stocks are now coming back into balance, manufacturing growth is still likely to be slower in the first half of 2014 than in the fourth quarter of 2013.
Buffett said: “If you could have a minimum wage of $15 and it didn't hurt anything else, I would love it. But clearly that isn't the case.”
Like their peers in other sectors, industrial manufacturing CEOs are much less worried about the global economy than last year, although exchange rate volatility and energy costs are still big concerns.
U.S. manufacturing expanded more quickly last month, but a measure of production fell to its lowest level in nearly five years, likely a casualty of severe winter weather.
The Commerce Department says that spending rose 0.4 percent in January following a tiny 0.1 percent gain in December.
Buffett says the economy continues the steady improvement that began in fall of 2009 and he remains optimistic about the future.
China's manufacturing weakened in February and employers cut staff at the fastest rate in nearly five years, a survey showed Monday.
President Obama is challenging Congress to help him create jobs and rebuild the nation's infrastructure.
Check out some of this week's top headlines from across Manufacturing.net, from a phone that can self-destruct from an airplane manufacturer to more stress for Detroit from the United Auto Workers union.
A rising stock market and a more optimistic outlook among younger Americans pushed up a measure of U.S. consumer sentiment in February.
The U.S. economy grew at a 2.4 percent annual rate, significantly slower than first thought, reflecting slower consumer spending than initially estimated.
Vice President Joe Biden says his central message to Democrats is not to apologize for the party's policies heading into the 2014 midterm election.
"Comprehensive reform carries with it serious effects on our economy, along with the potential to unleash significant growth if done well," according to NAM.
While on the surface the report seems alarmingly negative, it is not. Civilian aircraft orders declined 20.3 percent in January and 22.3 percent in December; aerospace has an extremely volatile order book month to month but its backlogs extend many years into the future.
But a key category that reflects business investment rebounded on the strength of demand for electronics and fabricated metals.
Applications are a rough proxy for layoffs. The average is not far above pre-recession levels, a sign companies are laying off few workers.
The study found that every state would see significant job gains within three years, with a major impact on manufacturing job growth.
Gov. Bobby Jindal is defending his harsh criticism of President Barack Obama within yards of the Oval Office, saying "in America we don't have a king." The Republican was criticized by a Democratic governor Monday after Jindal emerged with others from a meeting with Obama and said the president "seems to be waving the white flag of surrender" on the economy.
Despite being comprehensive and ambitious, China’s new economic reform agenda is criticized for being vague and not overwhelmingly innovative. According to a new report, however, what is encouraging this time is that China’s leaders have demonstrated a stronger will to ensure successful implementation.
The Equipment Leasing and Finance Association said overall new business volume for January was $6 billion, up 2 percent from new business volume in January 2013. Volume was down 44 percent from December, following the typical end-of-quarter, end-of-year spike in new business activity.
Disentangled from showdowns or looming crises, President Barack Obama and House Speaker John Boehner held a rare one-on-one Oval Office meeting Tuesday addressing potential areas of common ground that could lay a foundation for more ambitious goals like immigration and trade that remain long shots for action this year.
Speaking at the Greater Houston Partnership’s Thought Leader Series, Timmons discussed the unique opportunities and challenges facing the manufacturing economy and the solutions that will bolster the manufacturing industry’s economic strength nationwide and throughout the world.