US industrial output rises in May as manufacturing rebounds
The Federal Reserve said Friday industrial production rose 0.4 per cent last month, compared with an upwardly revised 0.4 per cent drop in April (it was previously a 0.5 per cent decline) and surpassing economists’ expectations for a 0.2 per cent gain.
Source: Financial Times.
Empire State Manufacturing Survey
The Empire State Manufacturing Survey, which measures how factories in New York State view the state of their business, fell much more than expected in June: a record 26 points, to the lowest level since October 2016. The figure, -8.6, is the first negative number in more than two years.
A reading below zero indicates that the sector is actually contracting. It had been growing — albeit at a slower pace — for more than a year. The dip was driven by a decline in employment, the length of the workweek and new orders. And it’s not the only indicator showing a turn for the worse: Others, including the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey, have also been sinking steadily.
Source: CNN Business.
UK manufacturing sees slowest growth in three years
Manufacturing output in the UK ground to a halt in the past three months, with the 2% growth seen in the sector the slowest since April 2016, according to the Confederation of British Industry (CBI).
More worryingly, the total number of orders logged in manufacturing books declined to their lowest level since October 2016, a survey of 308 manufacturers revealed. The slowdown in manufacturing output in the three months to June was primarily due to an 83% decline in motor vehicle production.
Source: Yahoo Finance UK.
Building the tools of the next manufacturing revolution
Someone who wants to glimpse the future of manufacturing should make a visit to John Hart’s lab. Through projects including next-generation 3-D printers, carbon nanotube fibers for use in electric motors and lightweight composites, and printing flexible materials for medical devices.
Hart, an associate professor of mechanical engineering at MIT and the director of the Laboratory for Manufacturing and Productivity and the Center for Additive and Digital Advanced Production Technologies, is an expert in 3-D printing. “3-D printing is the cornerstone of a digital transformation in the way we go about designing, producing, and servicing products in a responsive, market-driven manner.” says Hart.
Source: MIT News.