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Daily news and top headlines for manufacturing professionals

Manufacturers Are Leaving China, But Where Are They Headed?

January 28, 2014 10:59 am | by Tia Nowack, Associate Editor, Industrial Maintenance & Plant Operation | Blogs | Comments

Seeing China’s manufacturing sector shrink is a trend that excites Americans, although it may not actually alleviate much of the pressure around a U.S. unemployment rate of 7.3 percent. The reality, according to many experts, is that the phenomenon is more one of nearshoring than reshoring, as many of these businesses — along with their jobs — head to Mexico.

Consumer Confidence At Highest Point Since Aug.

January 28, 2014 10:29 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. consumer confidence has reached its highest point since August on the strength of a brighter view of the job market and business conditions. The Conference Board, a business research group, says its consumer confidence index rose to 80.7 this month from a December reading of 77.5. It was the second consecutive strong gain.

Sen. Coons: Manufacturing Jobs Must Be Central To SOTU

January 28, 2014 9:49 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

U.S. Senator Chris Coons (D-Del.) has today called for President Obama to focus tonight’s State of the Union address on ways the government will help American manufacturers expand and create new jobs.             

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U.S. Durable Goods Orders Drop 4.3 Percent

January 28, 2014 8:55 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Businesses cut back sharply on their orders for long-lasting manufactured goods in December with a key category that signals business investment plans falling by the biggest amount in five months. Orders for durable goods fell 4.3 percent in December compared with November, when orders had risen 2.6 percent.

Obama Speech: Big New Theme, Some Familiar Content

January 28, 2014 8:03 am | by Jim Kuhnhenn, Associated Press | News | Comments

The address will be wrapped in a unifying theme: The federal government can play a key role in increasing opportunities for Americans who have been left behind, unable to benefit from a recovering economy. Yet, at the core of the address, the president will deliver a split message.

Plastics Machinery Shipments Rise Sharply In Q3

January 27, 2014 1:57 pm | by SPI: The Plastics Industry Trade Association | News | Comments

Taking a closer look at the data, shipments of injection molding machinery were up 20 percent in the third quarter when compared with the same quarter of a year ago. Shipments of single-screw extruders advanced 9 percent, and shipments of twins-screw escalated 12 percent. Shipments of new thermoforming equipment spiked up 50 percent in Q3 when compared with last year

CAT CEO, NAM Want Obama To Make U.S. 'Can-Do' Nation

January 27, 2014 11:45 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

Yesterday, Doug Oberhelman, chairman and CEO of Caterpillar Inc., and Jay Timmons is president and CEO of the National Association of Manufacturers, penned an open letter to President Barack Obama calling for more leadership on creating an environment in which manufacturers can grow once more to create jobs and generate a stronger economy.

ELFA: New Business Volume Up During 2013

January 27, 2014 9:28 am | by The Equipment Leasing and Finance Association (ELFA) | News | Comments

In a typical end-of-year spike, their new business volume was up 62 percent from the previous month’s volume of $6.6 billion. Cumulative new business volume for 2013 rose 3 percent over 2012.                  

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Calif. Jobless Rate Dips But Manufacturing Suffers

January 24, 2014 2:34 pm | News | Comments

California's jobless rate remains above the national average of 6.7 percent. Despite adding 235,700 jobs in 2013, higher-wage sectors such as manufacturing and construction posted declines in December. Manufacturing saw the biggest drop, with 6,000 fewer jobs.

Manufacturing.net Rewind: Over 6,000 Now Jobless, China Seizes 60,000 Piracy Suspects

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

Check out some of this week's top headlines from across Manufacturing.net, from Intel and Texas Instruments cutting a combined 6,100 jobs to Ralph Lauren's new 'Made in USA' Olympic attire. Also, Chrysler is now a wholly-owned subsidiary of Fiat and Chinese police seized almost 60,000 suspects involved in intellectual property infringement cases with a total estimated value of $28 billion.

Bono, Cameron Talk Poverty, Climate At AP Debate

January 24, 2014 12:35 pm | by Josh Heilprin, Associated Press | News | Comments

British Prime Minister David Cameron says efforts to eradicate poverty must go hand-in-hand with curbing global warming. The comments came Friday at an Associated Press debate looking ahead to the expiration of the United Nations' "millennium goals."

PwC 2014 Manufacturing Trends Predictions

January 24, 2014 11:08 am | by Tia Nowack, Associate Editor, IMPO | Articles | Comments

Every January, companies make predictions about the year ahead and what trends they should expect. Bobby Bono, the U.S. industrial manufacturing leader at PwC, has assembled a list of trends he is predicting for the manufacturing sector moving forward.

Union Membership Held Steady During 2013

January 24, 2014 10:22 am | by Sam Hananel, Associated Press | News | Comments

The nation's union membership rate held steady last year. There were gains among private sector workers' unions but they were largely offset by losses in state and local government.              

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Gauge Of U.S. Economy's Health Rises 0.1 Percent

January 23, 2014 10:33 am | by Paul Wiseman, AP Economics Writer | News | Comments

The Conference Board said Thursday that its index of leading indicators rose 0.1 percent last month. That's down from a 1 percent gain in November, the month after a partial 16-day shutdown of the federal government.       

Weekly Applications For U.S. Jobless Aid Mostly Flat

January 23, 2014 10:08 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

The number of Americans seeking unemployment benefits ticked up 1,000 last week to a seasonally adjusted 326,000, a level consistent with steady job gains. The Labor Department says the four-week average, a less volatile measure, fell for the third straight week to 331,500.

Equipment Lease Finance Industry Confidence Higher In January

January 23, 2014 9:41 am | by The Equipment Leasing & Finance Foundation | News | Comments

Overall, confidence in the equipment finance market is 64.9, the highest confidence level in two years, and an increase from the December index of 55.8. An improved general outlook for economic activity among industry leadership contributed to the increase.

Small Businesses Have Wish List For New SBA Head

January 23, 2014 8:34 am | by Joyce M. Rosenberg, AP Business Writer | News | Comments

Small business owners may be looking to the next SBA administrator for help making their companies stronger, but the role reaches into job creation and the health of the broader economy. More than 99 percent of the 27 million companies in the U.S. are small businesses. They employ about half the nation's workforce.

ABB: 4Q Earnings Down Due To Power Systems

January 22, 2014 3:58 pm | by ABB | News | Comments

ABB said its fourth-quarter 2013 results were adversely impacted mainly by charges for storm-related project delays and some operational issues in the Power Systems (PS) division. Additional restructuring-related charges were taken in response to the division’s soft order intake in 2013. The company also booked non-operational charges related to certain Group legacy issues.

Mayors: Cities Experiencing Economic Growth

January 22, 2014 2:29 pm | by Ken Thomas, Associated Press | News | Comments

The U.S. Conference of Mayors says it expects a boost in economic growth in most metropolitan areas in 2014. That's an improvement from last year, when about one-third of the nation's cities saw an economic decline. Scott Smith, the mayor of Mesa, Ariz., and the group's president, says mayors are encouraged that Congress approved a budget agreement this month.

OECD Boss Warns Of 'Cut-Throat' Post-Crisis Period

January 22, 2014 2:06 pm | News | Comments

Angel Gurria, the secretary-general of the Organization for Economic Cooperation and Development, said Wednesday that "everybody's going to try to recover the jobs they lost, the welfare well-being they lost, the exports they lost and they are going to recover it in the shortest period of time."

Survey: CEOs More Confident On Global Economy

January 21, 2014 1:59 pm | by John Heilprin and Pan Pylas, Associated Press | News | Comments

Accounting and consulting firm PricewaterhouseCoopers, which conducted the survey, said the world's corporate leaders are "gradually switching from survival mode to growth mode." That could lead to more investment, growth and jobs.    

U.S. Spending To Boost Conn. Defense Contractors

January 21, 2014 12:32 pm | News | Comments

Connecticut's U.S. senators are visiting Sikorsky's headquarters in Stratford to highlight how local defense contractors will benefit from spending in a recently approved federal budget. Sens. Richard Blumenthal and Chris Murphy will be joined by U.S. Rep. Rose DeLauro on the visit Tuesday to the helicopter division of United Technologies Corp.

IMF Raises Outlook For Global And U.S. Economies

January 21, 2014 9:41 am | by Martin Crutsinger, AP Economics Writer | News | Comments

In an updated outlook, the global lending organization forecasts that the world economy will grow 3.7 percent in 2014 and that the U.S. economy will grow 2.8 percent. The global forecast is 0.1 percentage point higher and the U.S. forecast 0.2 point higher than in the IMF's October forecast.

EU Suspends Part Of Free Trade Talks With U.S.

January 21, 2014 8:40 am | by Juergen Baetz, Associated Press | News | Comments

The European Union says it is suspending a part of the free trade negotiations with the United States to hold a three months-long public consultation amid worries about the deal's proposed rules for investment. EU trade chief Karel De Gucht said Tuesday "some people in Europe have genuine concerns" about the planned investment agreement and the EU therefore seeks their input.

French Leader To CEOs: Invest More To Get Tax Cut

January 21, 2014 8:03 am | by Sylvie Corbet, Associated Press | News | Comments

Companies in France pay the highest payroll taxes in Europe. A promised $41 billion payroll tax cut is a centerpiece of Hollande's new bid to keep the economy from sliding back into recession and bring down nearly 11 percent unemployment.   

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