Ensuring the Continued Resiliency of U.S. Manufacturing; UK Manufacturers Record Sharpest Rise in Optimism Since 1973 as Covid Recedes; German Manufacturing Continues to Power Eurozone Recovery; German Manufacturers’ Optimism Hit by Supply Chain Disruption.
Ensuring the Continued Resiliency of U.S. Manufacturing
Last year, U.S. hospitals found themselves in a desperate scramble for ventilators and protective gear. This year, instead of ramping up to meet resurgent demand, U.S. automakers have been shutting down production lines due to a shortage of semiconductor chips.
These incidents have delivered a stark reminder that manufacturing capabilities matter—not only to fuel the economy in good times but also to keep it functioning in moments of crisis.
UK Manufacturers Record Sharpest Rise in Optimism Since 1973 as Covid Recedes
UK manufacturers have recorded the sharpest rise in optimism since 1973 amid growing demand as Covid lockdown measures are relaxed, the latest snapshot of activity from the CBI shows.
In a poll of 288 leading industrial companies, the employers’ organisation found business sentiment increased in the three months to April at the fastest pace since April 1973, as progress with the Covid vaccine raised hopes for a rapid return to relative normality later this year.
Source: The Guardian
German Manufacturing Continues to Power Eurozone Recovery
An upturn in German industrial output saw eurozone business activity grow at a stronger rate than expected in April despite new restrictions in several countries to help contain COVID-19.
In its monthly survey of procurement executives, IHS Markit showed that preliminary readings of its composite Purchasing Manager Index (PMI) of manufacturing and services rose to 53.7 in April, from 53.2 in March. An index reading higher than 50 indicates expanding business activity.
German Manufacturers’ Optimism Hit by Supply Chain Disruption
Disruption to global supply chains is becoming an increasing drag on businesses’ optimism about the economic recovery from the coronavirus crisis, according to a survey of German manufacturing companies. Almost half of German manufacturers reported disruption to their supplies of parts or materials in the past month, the highest level for 30 years, the survey by the Ifo Institute found.
Source: Financal Times