The 2020 Mid-Year Economic Update_long

Day: September 4, 2007

ISM: Manufacturing Expands in August

Economic activity in the manufacturing sector expanded in August, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
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Viewed from the manufacturing sector, the overall economy continues to grow at a significant rate, according to ISM. In comparing August to July, the rate of growth in manufacturing was slightly less but expansion continues, although at the slowest pace in the past five months.
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Both the New Orders Index and the Production Index are encouraging for continuing growth as we head toward the fourth quarter of 2007, ISM reports.
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Regal Beloit Buys HVAC Supplier Jakel Inc.

Regal Beloit Corporation, Beloit, WI, has acquired Jakel Inc. and completed the announced $220 million acquisition of the FASCO Residential/Commercial and FASCO Asia/Pacific operations from Tecumseh Products.
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Both of the acquired businesses manufacture and market motors and blower systems for air-moving applications including alternative fuels systems, water heaters, HVAC systems and other commercial segments. The two independent businesses will be combined and operate as a single unit as part of the Company's Electrical Segment.
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The acquired businesses are anticipated to add approximately $355 million in sales to 2008.
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The six facilities included with the acquisitions are FASCO'S manufacturing and distribution facilities in Eldon and ...

Labor Productivity Up 4.3% in 2006 in Wholesale Trade

Labor productivity -defined as output per hour -increased 4.3% in wholesale trade in 2006, according to the U.S. Bureau of Labor Statistics.
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From 1987 to 2006, labor productivity increased at the following average annual rate: 3.5% in wholesale trade.
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2005-2006 Change in Wholesale Trade
Output per hour grew 4.3%, as output increased 6.6% and hours advanced 2.2%.&nbsp ; Labor productivity rose 5.1% in durable merchant wholesalers (NAICS 423) and increased 2.7% in nondurable merchant wholesalers (NAICS 424).
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Labor productivity rose in 15 of the 19 detailed wholesale trade industries in 2006, as output ...