Industrial Buyer's Breakdown: Food, Packaging, IT Spends Up

Data from a new economic tracker shows a combination of huge spending drops, as well as sectors within U.S. manufacturing that are actually spending more despite COVID-19.

Cortera, in partnership with Moody’s Analytics, recently launched the COVID-19 Economic Impact Tracker (CEIT). The tool provides a breakdown of purchasing data from thousands of companies in various sectors of the U.S economy. Every week, our editors will sit down with Jim Swift, the founder and CEO of Cortera to discuss the tracker’s latest data and what they mean to purchasing trends throughout the industrial marketplace. 

In this initial episode of the Industrial Buyer's Breakdown, Swift, along with editorial director Jeff Reinke and managing editor Mike Hockett, discuss the CEIT’s latest findings, including:

  • How food and beverage manufactures are delivering huge year-over-year increases in purchasing.
  • What increased IT spending in the industrial sector could mean for operations during the pandemic.
  • Why packaging and MRO spends continue to be vital, and sustaining for a number of key supply chains.
  • The role that ongoing construction is having in keeping machinery manufacturing from seeing even more significant decreases.

In addition to the markets that are still providing encouraging purchasing numbers, the panel also dives into those where the largest drop-offs are taking place, and what the future could hold.