Week 47 in Manufacturing News
Industrial ETFs to Gain on Improving US Manufacturing Output; Manufacturing Industry Overwhelmed by Innovative Threat Actors; Germany to Pump Additional €3 Billion in Ailing Automotive Industry; Creating the Pathway to Excellence for Australian Manufacturers.
Industrial ETFs to Gain on Improving US Manufacturing Output
The latest update on U.S. manufacturing output looks encouraging despite the rising coronavirus cases. The metric has increased for the sixth straight month as factories begin to rebound from the slump during the coronavirus-led lockdown in March. Going by the Federal Reserve’s recently-released data, factory output rose 1% month over month, following an upwardly revised 0.1% increase in September, per a BloombergQuint article.
Manufacturing Industry Overwhelmed by Innovative Threat Actors
The research findings point to an industry whose security teams are seeing the IT and OT environments converging at a rapid pace. Yet manufacturing organizations are struggling to safeguard OT assets as they are using the same tools to safeguard their IT infrastructure as they are for OT.
As a result, IT teams can’t keep up with growing volumes of security data or the increasing number of security alerts. They lack the right level of visibility and threat intelligence analysis and don’t have the right staff and skills to handle the cybersecurity workload.
Germany to Pump Additional €3 Billion in Ailing Automotive Industry
The German government announced on Tuesday that it would support the country’s ailing automotive industry with an additional of €3 billion ($3.56 billion) — bringing Berlin’s total financial support for the industry to €5 billion.
The announcement came after a meeting between Chancellor Angela Merkel and heads of several car industry officials and labor unions, including IG Metall, Germany’s largest labor union.
“We are all aware that the industry is going through a difficult phase that affects hundreds of thousands of jobs,” said Economy Minister Peter Altmaier.
Creating the Pathway to Excellence for Australian Manufacturers
The Association for Manufacturing Excellence is celebrating the 20th year of its Australian Chapter. In an open letter to AME members, president Barry McCarthy has encouraged members to show their support for Australian manufacturing and manufacturing excellence by attending the AME Toronto 2020 Virtual Conference.
Source: Manufacturers Monthly