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Daily news and top headlines for manufacturing professionals

Durable Goods Orders Fall In January

February 27, 2014 9:40 am | by Josh Boak, AP Economics Writer | News | Comments

But a key category that reflects business investment rebounded on the strength of demand for electronics and fabricated metals.                      

Applications For Jobless Benefits Rise To 348K

February 27, 2014 8:42 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Applications are a rough proxy for layoffs. The average is not far above pre-recession levels, a sign companies are laying off few workers.                   

Ending Currency Manipulation Could Create 5.8M Jobs

February 26, 2014 3:23 pm | by Alliance for American Manufacturing (AAM) | News | Comments

The study found that every state would see significant job gains within three years, with a major impact on manufacturing job growth.                    

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Jindal Defends Criticism Of Obama Economic Policy

February 26, 2014 2:30 pm | News | Comments

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.

MAPI: China’s Economic Reforms Offer Both Challenges And Opportunities

February 26, 2014 2:10 pm | News | Comments

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.

ELFA: New Equipment Finance Up 2 Pct. In January

February 26, 2014 10:55 am | by The Equipment Leasing and Finance Association | News | Comments

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. 

Obama, Boehner Meet For Hour At White House

February 26, 2014 10:00 am | by Jim Kuhnhenn, Associated Press | News | Comments

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.

Manufacturing The Comeback For The American Economy

February 25, 2014 2:12 pm | News | Comments

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.

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Chicago Lands New Digital And Design Manufacturing Hub

February 25, 2014 1:59 pm | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

The President has announced the Digital Manufacturing and Design Innovation Institute (DMDI), which will be headquartered in Chicago, Ill., and funded via a $70 million grant that state and private entities will match to the tune of $250 million.

U.S. Consumer Confidence Dips Slightly In February

February 25, 2014 10:57 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. consumer confidence fell slightly in February over concerns about the near-term outlook for business conditions and jobs. The Conference Board said Tuesday that its confidence index dipped to 78.1 this month, down from 79.4 in January.   

Warren Buffett Offers Lesson In Value Investing

February 24, 2014 2:06 pm | News | Comments

Warren Buffett is offering a refresher course on his approach to investing in his annual letter to Berkshire Hathaway Inc. shareholders. Buffett's full letter won't be released until Saturday, but Fortune magazine published an excerpt of it online (http://bit.ly/1hKsIk1 ) on Monday.

Equipment Leasing and Finance Industry Confidence Levels Near Two-Year High

February 24, 2014 12:42 pm | by The Equipment Leasing Finance Foundation | News | Comments

Overall, confidence in the equipment finance market is 63.3, the second highest index in two years and off slightly from last month’s two-year index high of 64.9.                          

Obama Looks To Governors For Help With Economy

February 24, 2014 8:15 am | by Steve Peoples, Associated Press | News | Comments

His domestic priorities stalled in a divided Congress, President Barack Obama is looking for allies among America's governors. The president plans to meet Monday with governors of both parties at the White House, following a Sunday dinner in which he told state leaders their cooperation "is vital to make sure we're doing right by the American people."

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Detroit Automakers Worry About UAW Money Struggles

February 24, 2014 8:00 am | by Tom Krisher, AP Auto Writer | News | Comments

They worry that the 382,000-member UAW could be absorbed by a more hostile union. Such a merger could disrupt a decade of labor-management peace that has helped America's auto industry survive the financial crisis and emerge much stronger, according to a person with knowledge of executive discussions.

Transcripts Show Fed Grappling With 2008 Crisis

February 21, 2014 11:27 am | by Martin Crutsinger and Paul Wiseman, AP Economics Writers | News | Comments

Federal Reserve officials agonized throughout 2008 over how far they could go to stop a financial catastrophe that threatened to pull the economy into a deep recession, transcripts of the Fed's policy meetings that year show.     

Japan Trade Deficit Hits Record $27.4B In January

February 20, 2014 2:16 pm | by Elaine Kurtenbach, AP Business Writer | News | Comments

A weakening in the Japanese yen over the past year has failed to boost exports as much as hoped while imports of oil and gas, food and other products have surged. Consumers and businesses are thought to be stepping up purchases ahead of an April 1 sales tax hike.

Wal-Mart Offers Weak Outlook On Sales Shortfall

February 20, 2014 2:11 pm | by Anne D'Innocenzio, AP Retail Writer | News | Comments

Much like its low-income shoppers, Wal-Mart can't seem to catch a break in as the U.S. economy rebounds. The world's largest retailer on Thursday posted a 21 percent drop in fourth quarter profit and gave a subdued forecast for the current quarter as it continues to be weighed down by a number of factors.

U.S. Consumer Prices Rose 0.1 Percent Last Month

February 20, 2014 12:08 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. consumer prices barely rose last month as a sharp increase in energy costs was offset by cheaper clothing, cars and air fares. The figures indicate inflation remains mild. The Labor Department said Thursday that the consumer price index rose just 0.1 percent in January, down from a 0.2 percent gain in December

Gauge Of U.S. Economy's Health Up 0.3 Percent

February 20, 2014 10:36 am | by Martin Crutsinger, AP Economics Writer | News | Comments

The Conference Board reported Thursday that its index of leading indicators rose 0.3 percent last month following no change in December and a solid 0.9 percent increase in November. The index is designed to signal economic conditions over the next three to six months.

U.S. Applications For Jobless Benefits Drop To 336K

February 20, 2014 9:41 am | by Josh Boak, AP Economics Writer | News | Comments

The number of people seeking U.S. unemployment benefits fell a slight 3,000 last week to a seasonally adjusted 336,000, a sign that layoffs remain low. The Labor Department said Thursday that the four-week average of applications, a less volatile measure, rose slightly to a seasonally adjusted 338,500.

China's Manufacturing Slows To 7-Month Low

February 20, 2014 7:49 am | News | Comments

China's economic activity has slowed steadily as the government tries to reduce reliance on investment in industry and infrastructure and encourage more sustainable growth based on domestic consumption. HSBC economist Hongbin Qu said that the buildup of pressure for prices to fall "implies that the underlying momentum for manufacturing growth could be weakening."

IHS: 4Q Manufacturing Employment Surges To 4-Year High

February 19, 2014 4:52 pm | by Aparna Soni, Economist, IHS Global Insight | News | Comments

At over 12 million jobs nationwide, manufacturing employment is now the highest it has been since 2009. The sector recovered handsomely from the setbacks it had faced earlier in the second and third quarters and is poised to start the new year on a strong footing.

Downside Of Low Inflation: A Weaker Global Economy

February 19, 2014 2:39 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Overall prices are barely budging because the economy is still weak. And the reverse may be true, too: Super-low inflation has likely slowed growth from the United States to Japan to Europe. It's why the world's central banks would like prices to rise.

U.S. Producer Prices Rose Slight 0.2 Percent In Jan.

February 19, 2014 11:20 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

The Labor Department says the producer price index, which tracks prices before they reach consumers, rose 0.2 percent in January. That followed a 0.1 percent increase in December and a flat reading in November. In the past year, producer prices have risen just 1.2 percent, below the Federal Reserve's preferred target rate.

Report: Offshoring And Outsourcing A Mixed Bag For U.S. Jobs, Wages

February 19, 2014 9:41 am | by UC Berkeley and Massachusetts Institute of Technology (MIT) | News | Comments

Without solid numbers, many have assumed that most of the offshored jobs go to developing countries where workers are paid near-poverty wages in less than ideal working conditions. However, the researchers said public fear that offshoring to lower-cost countries is putting downward pressure on U.S. jobs may be overblown.

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