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
Industry News
Machinery Appraisal 101: What it is, Why it’s Important, and How to Get it Done
When it comes to machinery and equipment, understanding their value is crucial for any business. Machinery appraisal is the process of determining the value of machinery and equipment, and it is an crucial part of business for a business owner as machinery appraisal can impact business valuation. Here's what you need to know about machinery appraisal and why it's important. What is Machinery Appraisal? Machinery Appraisal is the process of determining the value of machinery and equipment. There are three methods that appraisers commonly use to determine the value of equipment: Sales Comparison Method: This method compares the equipment being appraised to similar equipment that has recently been sold. Income Method: This method considers the income generated by the equipment being appraised, including its operational … [Read more...] about Machinery Appraisal 101: What it is, Why it’s Important, and How to Get it Done
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
February 2023 Publisher Page: Welcome to the New Surplus Record Magazine
Welcome to the new Surplus Record magazine! This is the first time since 1955 our publication has undergone a complete re-design, and only the second time in our entire 99 years of printing our publication! First let’s knock a few questions out of the way… So please sit back, relax, cut out some screen time, and enjoy browsing the New & Improved 1,179th Surplus Record magazine! Who knows, you may just be one page away from finding the exact equipment item you need, or finding a trusted equipment Dealer that will supply your company with used, remanufactured, or surplus equipment for the next decade! Special thank you to our partners EP Graphics, ePageCity, RFBDesign, and of course our Advertisers that helped make this possible keeping the last publication of surplus/used equipment for sale alive in … [Read more...] about February 2023 Publisher Page: Welcome to the New Surplus Record Magazine
Buying New vs. Used Machinery and Equipment
When it comes to buying industrial machinery and equipment, factories and manufacturers must consider several factors before making a purchase. One of the most important decisions to make is whether to buy new or used machinery. In this article, we will explore some of the pros and cons of both options and help you decide which is the best choice for your specific needs. Do You Save More with Used Machinery and Equipment? One of the main factors to consider when buying industrial machinery is cost. On the surface, it may seem like used machinery is the more cost-effective option, as it is typically priced lower than new machinery (usually 30% - 70% lower depending on the demand of the equipment). However, there are a few factors to keep in mind. Used Machinery Costs It's important to keep in mind that purchasing used machinery … [Read more...] about Buying New vs. Used Machinery and Equipment