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U.S. Manufacturing Grows at Fastest Pace in More Than a Year
Factory activity expanded in June at the fastest clip in more than a year, an encouraging sign that American manufacturers are gaining traction. The Institute for Supply Management’s index increased to 53.2 last month, the highest since February 2015 and exceeding the most optimistic projection in a Bloomberg survey of economists, from 51.3 in May, data from the Tempe, Arizona-based group showed Friday.
ELECTROLESS NICKEL - MID AND HIGH PHOS. ELECTROLESS NICKEL - TEFLON Improving consumer spending is helping pull manufacturing out of BRIGHT NICKEL a prolonged slump that began in early 2015 as a surging dollar hurt BLACK OXIDE exportsPASSIVATION and the slump in oil prices curbed investment in the energy – CLEAR ANDof YELLOW industry.CHEMFILM Strengthening indexes bookings and production, which COPPER PLATING reached three-month highs, signal factory gains will be sustained. CHROME PLATING 24KT GOLD PLATING “Manufacturing output has been closeOXIDE to zero for the past year, and GLASSBEADING/ALUMINUM ULTRASONIC CLEANING hopefully the rise in the index is a sign that the pace of deterioration & POST BAKE in somePRE manufacturing industries has stabilized,” said Ryan Wang, an STRESS RELIEVE economist at HSBC Securities USA Inc. in New York who forecast NICKEL/CHROME STRIPPING
that the factory gauge would improve. “Manufacturing firms that produce consumer goods continue to see solid demand.”
While the ISM’s export orders index climbed to the highest level since November 2014 – a tentative sign that global demand is beginning to stabilize – the group will issue results later from a separate survey
46 Jan/ Aug / Feb 42 •• July 20162015
2 Z METALWORKER SW • • A2ZAManufacturing Rocky Mountain
3 Phoenix Businesses Make ‘Forbes’ Best Small Companies List Survey Results
The business publication listed Grand Canyon Education Inc., as the Readings than 50 while indicate growth in theInc. industry, the seventh best higher small company, Cavco Industries came inand at No. Bloomberg survey median called for the June index to hold at 51.3. 13 and Inventure Foods Inc. was 33rd. Economists’ estimates ranged from 50 to 52.5. Forbes ranked the 100 best small companies that had been publicly traded foron at aleast a year, generated annual revenue between $5 million “We’re pretty good trend,” Bradley Holcomb, chairman of the andISM $1 factory billion, survey, and hadsaid a stock price no lower than $5 a share. on a conference call with reporters.The “It’s rankings were–based on earnings sales growth firming and return not robust I wouldn’t say thatgrowth, – but it’s definitely up.”on equity in the past year and over five years. Stock performance over the last year also was factored into the ranking. The new orders gauge rose last month to 57 from 55.7, while the index of 1,bookings customers advanced by 1 $641 point From Oct. 2013, tofrom Oct. overseas 1, 2014, Grand Canyon’s sales were to 53.5. million. The for-profit Christian university posted sales growth of 28 percent and earnings per share growth of 54 percent over the past five A years. decline in the value of the dollar this year may be starting to filter through into improving export demand. Nonetheless, a more recent Cavco brought in $539 million for the year ended Oct. 1. The factoryadvance in the greenback, in the wake of the Brexit vote, underscores built home manufacturer reported earnings per share growth of 88 the possibility of more complications for American producers. percent over the past five years, but only a 4 percent increase in return on equity for that period. “The fallout from Brexit has some risks going forward,” said David Sloan, senior at 4cast Inc. New York. still a Inventure postedeconomist $253 million in sales forinthe past year.“There’s The specialty lot marketer to be worried about in theposted manufacturing The ISM’s food and manufacturer 14 percentsector.” sales growth, 19 measure of production increased to 54.7 from 52.6. The index of percent growth in earnings per share and a 12 percent return on equity supplier deliveries rose to 55.4 from 54.1. That was the highest over the past five years.Source: Phoenix Business Journal since December 2014 and shows stronger demand is delaying shipments.
CPI Fell 0.3% In November, “The Most Since December 2008 Factory Employment
Bloomberg News reports, “The cost of living in the U.S. fell in The report alsomost showed a gauge of factory employment inNovember by the in almost six years, depressed by fallingindex energy creased to 50.4, the first print above 50 since November, from 49.2 prices that signal inflation will stay below the Federal Reserve’s goal to indicate worst the industry’s cutbacks in headcounts are over. heading into the 2015. Theofconsumer-price index dropped 0.3 percent” in November, “the most since December 2008,” according to a report The gauge of factory inventories rose to 48.5 in June from 45, while released by the US Labor Department. customer stockpiles climbed to 51 from 50. Bloomberg News adds, “The median forecast of 84 economists surveyed by Bloomberg called for a 0.1 percent The factory data followed a report earlier thatfall.” showed consumers continued spending last month following an April surge on the The Business Insider reports,and “‘Core’ inflation, excludes the heels of steady job growth a nascent pickupwhich in wages. Personal more volatile cost of food and gas, rose by 0.1% in November, spending climbed 0.4 percent in May after a 1.1 percent jumpin-a linemonth with earlier expectations. rose 1.3%the year-on-year, that was Headline more thaninflation initially estimated, Commerce justDepartment below expectations, while core inflation rose 1.7%, also just figures showed. Source: Bloomberg below expectations.”
U.S. Arms Sales Approvals OnRaise Track To Fed Signals That It Is In No HurryTo Rates Reach Nearly $40 Billion The AP reports that the Federal Reserve said that it will be “patient” TheitU.S. government on track to approve nearly $40 billion in when comes to decidingiswhen to increase rates. At a news conference, foreign military sales in the 2016 fiscal year that ends October Fed Chair JanetYellen “said she foresaw no rate hike in the first quarter1, of down 2015.”from $46.6 billion last year, a top Pentagon official said. Yellen added that the “strength of U.S.We’re economic data toward and theour levelforeof “We’re tracking toward $40 billion. tracking inflation, not Navy a calendar date, willJoe dictate when raisesthe rates.” cast,” U.S. Vice Admiral Rixey, whoitheads Pentagon’s