The Labor Department said Friday that employers added jobs in 43 states and cut jobs in just seven. California, Texas and Indiana reported the largest job gains. The lower state unemployment rates are due in part to robust hiring nationwide over the past four months.
Manufacturing industrial production increased at a 1.0 percent annual rate during the third quarter of 2013, but production has rapidly accelerated in the fourth quarter. Inflation-adjusted GDP increased at a 3.6 percent annual rate in the third quarter. MAPI forecasts that manufacturing production will increase 3.1 percent in 2014, a slight deceleration from the 3.2 percent forecast in the September 2013 report.
The Commerce Department's final look at growth in the summer was up from a previous estimate of 3.6 percent. Four-fifths of the revision came from stronger consumer spending, primarily in the area of health care. The 4.1 percent third quarter growth rate came after the economy expanded at a 2.5 percent rate in the second quarter. Much of the acceleration reflected a buildup in business stockpiles.
BlackBerry is reporting a massive $4.4 billion loss in the third quarter and 56 percent drop in revenue. The results are the Blackberry's first under new chairman and interim chief executive John Chen. BlackBerry also announced it is entering in to a five-year partnership with Foxconn, the world's largest manufacturer of electronic products.
Manufacturing.net has been covering the “re-shoring” trend for years, but in 2013, the trend finally hit mainstream, and became a real possibility for far more companies than previously thought possible. Re-shoring was discussed in the news and within important economic circles, and even the President mentioned it multiple times during the State of the Union and other key speeches.
The Federal Reserve said Wednesday that it will reduce its $85 billion a month in bond purchases by $10 billion starting in January, citing a stronger U.S. job market. The reduction to $75 billion a month is small but significant step because it signals that Fed policymakers are ready to ease their massive support for the economy provided since the Great Recession.
Overall, confidence in the equipment finance market is 55.8, a decrease from the November index of 56.9, reflecting industry concerns over uncertainty regarding capital expenditures (capex) and competitive market pressures in 2014, among other issues.
The automaker expects 10 percent revenue growth, improved market share in all regions except Europe and stronger cash flow than a year ago. The company released its forecast Wednesday ahead of a presentation to analysts by Chief Financial Officer Bob Shanks.
The growing gap between the richest Americans and everyone else isn't bad just for individuals. It's hurting the U.S. economy. So says a majority of more than three dozen economists surveyed last week by The Associated Press.
U.S. Senator Amy Klobuchar, Vice Chair of the U.S. Congress Joint Economic Committee, today released a new report detailing the revitalization in U.S. manufacturing, showing it has added over 500,000 jobs since February 2010 and exceeded its pre-recession peak for exports, up 38 percent since 2009.
“American chemistry is back in the game,” said Dr. Kevin Swift, ACC’s chief economist. "After a decade of lost competitiveness, American chemistry is reemerging as a growth industry. We’re seeing growing end-use markets; strengthening employment; surging exports."
U.S. consumer prices stayed flat in November, held down by falling gas prices. Inflation remains low across the broader economy, giving the Federal Reserve latitude to continue its extraordinary stimulus program. The Labor Department says the consumer price index was unchanged last month, after dropping 0.1 percent in October.
CFOs are more optimistic about U.S. economic growth than they were a year ago and expect their companies’ sales to increase in 2014, with growth coming from doing more business with current customers and winning new customers, according to the Bank of America Merrill Lynch 2014 CFO Outlook survey. Nine out of 10 CFOs said they expect their companies to increase or maintain the size of their workforce next year.
U.S. factories increased output in November for the fourth straight month, led by a surge in auto production. The gains show manufacturing is strengthening and could help boost economic growth.The Federal Reserve says factory production rose 0.6 percent in November after a 0.5 percent gain in October.
U.S. workers boosted their productivity from July through September at the fastest pace since the end of 2009, adding to signs of stronger economic growth.The Labor Department said Monday that productivity increased at a 3 percent annual rate in the third quarter.
The manufacturing sector is optimistic about growth in 2014, with revenues expected to increase in 16 manufacturing industries, and the non-manufacturing sector predicts that 14 of its industries will see higher revenues. Capital expenditures, a major driver in the U.S. economy, are expected to increase by 8 percent in the manufacturing sector.
Back in April, rumors of more gun control, in addition to government hoarding, led gun enthusiasts to buy ammunition faster than ever, making it difficult for stores to keep various calibers in stock. Some even worried that law enforcement departments would be pinched for supply. It led to a record-breaking year for gun and ammo makers.
The producer price index, which measures prices before they reach the consumer, declined 0.1 percent last month, the Labor Department said Friday. This comes after similar decreases in October and September.
U.S. consumers ramped up spending in November on cars, appliances and furniture and made more purchases online, signaling growing confidence in the economy during the holiday shopping season.The Commerce Department said Thursday that retail sales rose 0.7 percent, the biggest gain in five months.
The number of people seeking U.S. unemployment benefits rose 68,000 last week to a seasonally adjusted 368,000, the largest increase in more than a year. The surge in first-time applications could be a troubling sign if it lasts. But it likely reflects the difficulty adjusting for delays after the Thanksgiving holiday.
Investment in equipment and software is expected to grow 3.1 percent in 2014 as economic conditions solidify and business confidence continues to recover, according to the Annual 2014 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. Equipment investment is expected to grow across most verticals.
October U.S. cutting tool consumption totaled $176 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 13.1 percent from September’s total but down 5.8 percent from October 2012.
The U.S. government ran a much smaller deficit through the first two months of the budget year than last year, signaling further improvement in the nation's finances. The Treasury Department says the gap between revenue and spending for November was $135.2 billion. That's 21.4 percent lower than November 2012.
Manufacturing production is expected to fare better than the overall economy, with anticipated growth of 3.1 percent in 2014 and 4.1 percent in 2015. The 2014 forecast is a slight decrease from the 3.2 percent predicted in the September forecast; the 2015 projection is unchanged.
About 75 percent of young women believe the U.S. needs to do more to bring about equality in the workplace, a new study finds, despite a narrowing pay gap and steady employment gains for women at higher levels of business and government.