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Daily news and top headlines for manufacturing professionals

U.S. Economy Grew At Fast Rate In Q3

December 23, 2014 11:43 am | by Martin Crutsinger, AP Economics Writer | News | Comments

The U.S. economy grew at a sizzling 5 percent annual rate in the July-September period, the fastest in more than a decade, on the strength of consumer spending and business investment. The resurgence in growth last quarter provided the latest evidence that the U.S. economy is steadily strengthening...

U.S. Consumer Spending Up Solid 0.6% In Nov

December 23, 2014 10:25 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. consumer spending rose at the fastest pace in three months in November, while income posted the best gain in five months — both encouraging signs for economic growth. The Commerce Department said Tuesday that consumer spending increased 0.6 percent in November, double the...

U.S. Orders For Durable Goods Drop 0.7% In Nov

December 23, 2014 10:06 am | by Josh Boak, The Associated Press | News | Comments

U.S. factory orders for long-lasting manufactured goods slumped in November, largely due to falling demand in the military and defence sectors. The Commerce Department said Tuesday that orders for durable goods dropped 0.7 per cent last month, the third decline in the past four months. Much...

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Oil Patch Towns Looking To Catch Up With Demands

December 23, 2014 10:03 am | by The Associated Press | News | Comments

City officials in the North Dakota oil patch say they are forging ahead with housing and infrastructure projects, despite an expected downturn in drilling in the next year. Watford City Mayor Brent Sanford said development and land sales are not slowing down because housing needs for...

Chemical Manufacturing Looked Up In 2014

December 22, 2014 3:45 pm | by Meagan Parrish, Editor, Chem.Info | Articles | Comments

If 2014 could be summed up in one word for American chemical manufacturers, it would be—momentum. According to American Chemistry Council’s “Year-End 2014 Chemical Industry Situation and Outlook,” chemistry output expanded in the last year, despite weakness in key markets and...

U.S. Companies Eager To Embrace Cuba Face Hurdles

December 22, 2014 2:15 pm | by Paul Wiseman, AP Economics Writer | News | Comments

Cargill aims to sell more corn and soybeans. MasterCard covets another site for Americans to swipe credit cards. Marriott sees beachfront property that needs hotels. And outside Orlando, Florida, Danny Howell just knows there would be demand for his classic Chevrolet...

Officials Approve Incentives For IA Vegetable Oil Plant

December 22, 2014 1:46 pm | by The Associated Press | News | Comments

State and local officials have approved $3.1 million in incentives for an Omaha, Nebraska, soybean processor to build a $90 million vegetable oil refinery in northwestern Iowa. An agreement approved Friday by the Woodbury County Board will exempt Ag Processing Inc. from $2.1 million in county...

GM Pickup Production In MO A Boon For Other Plants

December 22, 2014 1:31 pm | by The Associated Press | News | Comments

Production of the Chevrolet Colorado and GMC Canyon pickup trucks at the General Motors plant in Wentzville is providing an economic boost not just in the eastern Missouri town but throughout the region. The St. Louis Post-Dispatch reports that since GM began producing the midsize pickups this...

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Obama Declares 2014 'A Breakthrough Year For America'

December 19, 2014 3:41 pm | by Julie Pace, AP White House Correspondent | News | Comments

President Barack Obama said Friday that 2014 has been "a breakthrough year for America," putting aside the fits and starts of the past 12 months to focus on achievements and the prospect of compromise with his political foes who are taking control of Congress. "My presidency is entering the...

More Job Losses For The Oil Industry

December 19, 2014 2:20 pm | by CBS News | Videos | Comments

Lower oil prices are buoying Louisiana's fishermen, but putting the squeeze on others. Manuel Bojorquez reports on the threat to jobs in the state's oil industry and the impact of the steadily falling oil prices. Some reports say that job losses are offset by hiring in other industries...

Aging Farmer Population Threatens U.S. Food Supply

December 19, 2014 2:08 pm | by The Lempert Report | News | Comments

As the farmer population continues to age, young farmers face land availability and start-up costs as obstacles in becoming the next generation of farmers. However, First Generation Farmers, a Non-Profit organization is teaching young people to farm and is this week's featured food world innovator in...

Global Oil Impact: Who's Hurting, Happy, Hopeful

December 19, 2014 2:05 pm | by Jonathan Fahey, AP Energy Writer | News | Comments

Oil's plunge is spreading both pain and gain across the globe. The price of a barrel has fallen by about half since June, punishing the economies of some major exporters. Russia's currency has nose-dived, for instance, and investors worry Venezuela could default on its...

Realities Of IL Spawns Manufacturing Growth, Opportunities

December 19, 2014 11:24 am | by Jeff Reinke, Editorial Director | Articles | Comments

Daniel Goff, of Illinois’ Department of Commerce & Economic Opportunity, understands some of his home state’s perception issues as he works to bring more manufacturing to the region. However, he also understands many of the benefits that numerous global companies have realized in opening new...

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The Keystone Pipeline Debate In The New Year

December 18, 2014 4:58 pm | by Bridget Bergin, Associate Editor | Blogs | Comments

The Keystone Pipeline debate has been raging for years, but a new Senate makeup in 2015 could signal sweeping changes. First, let’s review the project and the two major sides in the debate. On one hand, the Keystone pipeline project could greatly benefit the U.S. economy, and on the other, it could drastically harm...

Gauge Of U.S. Economy Rises 0.6% In Nov

December 18, 2014 2:19 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

An index designed to predict the future health of the economy posted a third straight solid gain in November. The Conference Board said Thursday that its index of leading indicators increased 0.6 percent last month, matching the revised October gain. The October reading had originally...

CO2 Levels Reach All-Time High, But Growth Is Slowing

December 18, 2014 2:13 pm | by Meagan Parrish, Editor, Chem.Info | Articles | Comments

First, the bad news: Global CO2 emissions from fossil fuels and industrial processes (cement and metal production) reached an all-time high in 2013. The upside? The rate of emission growth is slowing down for the second year in a row. In its annual, “Trends in Global CO2 Emissions,” PBL Netherlands...

Manufacturing Growth Slows In Philadelphia Region

December 18, 2014 1:47 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Manufacturing in the Philadelphia region grew at a much slower pace in December compared with the previous month. But the drop came after factory activity reached its highest levels in 21 years in November. The Federal Reserve Bank of Philadelphia says its index of regional factory activity...

U.S. Jobless Aid Applications Decline To 289K

December 18, 2014 11:15 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

Fewer Americans sought unemployment benefits last week, a sign of solid job security and growing confidence among employers. Weekly unemployment benefit applications dropped 6,000 to a seasonally adjusted 289,000, the Labor Department said Thursday. That is the lowest level since...

MAPI U.S. Industrial Outlook: Widespread Growth Ahead

December 18, 2014 9:42 am | by Manufacturers Alliance for Productivity and Innovation (MAPI) | News | Comments

Job gains and business investment are the two lead drivers keeping manufacturing on a solid growth path, according to the MAPI Foundation's U.S. Industrial Outlook, a quarterly report that analyzes 27 major industries. The MAPI Foundation is the research affiliate of the Manufacturers Alliance for Productivity...

2015 Manufacturing Outlook: Q&A With Cliff Waldman

December 17, 2014 4:18 pm | by Jeff Reinke, Editorial Director | Articles | Comments

What will be the biggest trends manufacturing trends for 2015? Manufacturing.net sat down with Cliff Waldman, Director of Economic Studies from the Manufacturers Alliance for Productivity and Innovation Foundation to discuss the U.S. economy, manufacturing technologies, and...

NY Will Move To Prohibit Fracking

December 17, 2014 4:02 pm | by Mary Esch, The Associated Press | News | Comments

Gov. Andrew Cuomo's administration will move to prevent fracking in the state, citing unresolved health issues and dubious economic benefits of the widely used gas-drilling technique. Environmental Commissioner Joe Martens said Wednesday that he was recommending a ban, and Cuomo said he would...

Apple Stops Sales In Russia

December 17, 2014 3:56 pm | by The Associated Press | News | Comments

Apple has halted online sales of its iPhones, iPads and other products in Russia amid financial turmoil triggered by the steep decline in the country's currency. The ruble plunged by as much as 20 percent Tuesday, even after Russia's central bank increased interest rates sharply in an attempt to shore up the...

Fed Pondering Change In Rate Hike Signals

December 17, 2014 11:48 am | by Martin Crutsinger, AP Economics Writer | News | Comments

The U.S. economy is finally doing better, and the Federal Reserve may be ready to acknowledge that fact. In a statement it will issue Wednesday after two days of discussion, the Fed may no longer say it plans to keep a key interest rate near zero for a "considerable time." Dropping that language would be...

U.S. Current Account Deficit Rises To $100.3B

December 17, 2014 11:23 am | by Josh Boak, AP Economics Writer | News | Comments

The U.S. current account trade deficit widened slightly in the July-September quarter, largely due to foreign institutions paying less in fines and penalties to the U.S. government. The Commerce Department said Wednesday that the deficit in the current account rose to $100.3 billion in the third...

Russia's Sinking Economy Becoming A Global Threat

December 17, 2014 11:08 am | by Josh Boak, AP Economics Writer | News | Comments

Russia's suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy. With economies in Europe, Japan, China and Latin America already ailing, fresh threats have emerged from Russia's shriveled currency, its move to dramatically boost interest rates, the...

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