The Association For Manufacturing Technology says that may actually be a good thing. Here’s why.
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The layoffs came as the overall U.S. economy gained 311,000 jobs in February.
The New York Federal Reserve's monthly Global Supply Chain Pressure Index fell to a negative mark in February for the first time since August 2019.
Exports dropped for a 4th straight month amidst continued weakness in foreign demand, according to China’s General Administration of Customs.
The well-regarded barometer of U.S. manufacturing rose for the first time since August, but remains in contraction territory for the fourth straight month.
Spending, however, was down on a monthly basis in seven of the 16 nonresidential subcategories, according to an ABC analysis.
Members' sales growth for the 12 months through January 2023 was 18.1% percent, according to a HARDI news release.
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Driven by a sizable decrease in transportation equipment, it followed a strong 5.1% increase in December.
Year-to-year food prices abated to 11.6%, which is historically high but also the lowest annual increase since October 2021.
December 2022 cutting tool consumption totaled $188.4 million, according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology.
Over the past 12 months, the all-items index increased 6.4% before seasonal adjustment, according to the Bureau of Labor Statistics.
Despite the decline in January, backlog remains elevated by historical standards and is 0.1 months higher than in February 2020.
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Despite experiencing a decrease from total orders in 2021, the manufacturing technology industry still recorded its third-best year in 2022.
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After getting back on track in December, factory orders are up four of the last five months.
Construction job openings also increased by 82,000 in December, according to an Associated Builders and Contractors analysis.
