Recent economic manufacturing data suggests a US economy in a downturn (and likely, overall, in recession). In March, ISM’s Manufacturing Index declined for the fifth month in a row (after growing for 28 months before the decline commenced at the end of 2022), at a level signifying material economic contraction and a likely recession. Overall, every single sub-index comprising the overall ISM Manufacturing PMI contracted for the first time since May of 2009. In its latest report, ISM suggests that the PMI stood “at its lowest level since May 2020, when it registered 43.5 percent.” Particularly bearish in the report was the “New Orders” sub-index which “remained in contraction territory at 44.3 percent, 2.7 percentage points lower than the figure of 47 percent recorded in February.” According to ISM and Reuters, buyer anecdotes are … [Read more...] about Tracking the Manufacturing Slowdown
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The Future of Productivity and Growth in U.S. Manufacturing
With many technological advancements and changes happening in the manufacturing industry, it can be hard to keep up. To put it simply, the future of manufacturing looks very promising. In fact, more than 670,000 manufacturing jobs have been added since 2021, according to Spectrum News. So, what does the future of productivity and growth in United States manufacturing look like? Let’s answer some looming questions about the manufacturing industry. How Is Manufacturing Changing? In recent decades, the United States seemed to be in danger of losing its position as a world-leading manufacturing economy. This can be contributed to design services and software activities rather than actual physical production. However, there are some recent trends that point to the potential for a growth resurgence. Today, manufacturing in the United … [Read more...] about The Future of Productivity and Growth in U.S. Manufacturing
Top 8 Mistakes to Avoid when Selling Machinery Online
Are you facing trouble while trying to sell machinery onlinebecause you think the market is unprofitable? That's not true; selling machinery online is a great business considering it provides the vendors a chance to earn a greater profit. Companies have ever-changing schedules, and providing them with good-quality machines for the right price can bring you more clients quicker than you think. There's a long list of clients, especially in the industrial sector, that you can attract. Since selling machinery online is accessible to buyers worldwide, you have a greater chance of making more sales. Top 8 Mistakes to Avoid when Selling Machinery Online Despite the amazing potential of the online market for machinery and other equipment, you might still need help selling your machinery online. There are various reasons why you might … [Read more...] about Top 8 Mistakes to Avoid when Selling Machinery Online
Sell Your Used Equipment Online Faster with these 8 Tips
Are you planning to sell machinery online, considering the market opportunities available? It's a great option but may be more complicated than you think. Selling your used equipment online can prove to be quite profitable, but it may require some expertise and selling experience. In most cases, a person or company selling equipment may only see profits if they know the right tips. We recommend following some top methods to save you from this sales slump. Several professionals in the equipment industry provide these machines for sale, which makes it harder for you to succeed as a brand. Tips for Selling Equipment Online Faster It's understandable if you need help selling your equipment online quickly. It's challenging to thrive as a new seller in the industry, but the following tips can help you make it easier. 1 - Research … [Read more...] about Sell Your Used Equipment Online Faster with these 8 Tips
Manufacturing Trends & New Technology in 2022
It was over 200 years ago that the world went through the first industrial revolution where work transitioned primarily from manual labor performed by people to the use of machine tools and steam powered engines. Since then, we have gone three more industrial revolutions: The early 20th century steel and electricity, Late 1950’s computerized machinery technology, and finally where we are today, the fourth industrial revolution known as the internet of things (IoT) revolution, or industry 4.0. But where do we go from here? What does the rest of this decade look like in the manufacturing and industrial machinery world? Internet of Things (IoT) The biggest trend right now in the manufacturing world is coming from the internet of things (IoT). Manufacturers are adding more connectivity within their machines than ever … [Read more...] about Manufacturing Trends & New Technology in 2022
