U.S. Manufacturing Technology Orders Totaled $377.6M in February; UK Manufacturing Production Rises 1.3% MoM in February vs. -0.8% Expected; A Manufacturing Renaissance Could Drive Europe’s Post-Pandemic Recovery; Why Manufacturing Matters to Economic Superpowers.
U.S. Manufacturing Technology Orders Totaled $377.6M in February
U.S. Manufacturing Technology Orders totaled $377.6 million in February 2021, a 17.8% increase from January 2021 and a 34.2% increase over February 2020, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The Association For Manufacturing Technology. The year-to-date total was $698.2 million, representing a 22.4% increase over the first two months of 2020.
Source: Quality Magazine
UK Manufacturing Production Rises 1.3% MoM in February vs. -0.8% Expected
The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Tuesday, suggesting that Britain’s industrial sector is looking to emerge out of the damage caused by the covid-induced lockdowns.
Manufacturing output arrived at 1.3% MoM in February versus -0.8% expectations and -1.8% booked in January while total industrial output came in at 1.0% vs. 0.5% expected and -1.8% last.
A Manufacturing Renaissance Could Drive Europe’s Post-Pandemic Recovery
The challenges and setbacks of the pandemic have spurred European manufacturing companies to react; their efforts might set the stage for a European manufacturing renaissance.
The “Old Continent” has been battered by the pandemic and seems to have a harder time pulling out of the crisis than the US or Asia. The EU’s vaccination programs lag behind, with only about 15% of the population having received at least one shot – this compares to about one third of the population in the US and nearly one half in the UK. As a consequence, the largest EU members are still enforcing very tight lockdowns, while the UK and many US states are beginning to lift restrictions on business activity.
Why Manufacturing Matters to Economic Superpowers
Reshoring makes sense for some industries as competition rises between the US and China. While it has become increasingly automated and globalised over the past several decades, it still holds a special place in the national psyche in the US and other big exporting nations, such as Germany, China and Japan.
Source: Financial Times