Made In America: Manufacturing Sector Expands For 33rd Consecutive Month, But Growth Slows
by October 4, 2015 8:02 am 103 views
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MANUFACTURING SECTOR EXPANDS FOR 33RD CONSECUTIVE MONTH, BUT GROWTH SLOWS: The manufacturing sector expanded in September for the 33rd consecutive month, but growth fell to the lowest level in more than two years as executives expressed more concern about the global economy and consumer confidence, according to the latest Purchasing Manager’s Index (PMI) from the The Institute for Supply Management.
The September PMI registered 50.2%, a decrease of 0.9 percentage point from the August reading of 51.1%.The September PMI is the lowest reading since May 2013 when the PMI registered 50.1 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
To view a copy of the September PMI report, click here.
U.S. JOBLESS RATE UNCHANGED, HEALTH CARE SECTOR DRIVING NATION’S JOB GROWTH: The nation’s unemployment rate remained flat at 5.1% in September as total nonfarm payroll employment increased by 142,000 for the month, the U.S. Bureau of Labor Statistics reported Friday.
Job gains occurring in health care continued to drive U.S. job growth in September as the health care sector added 34,000 jobs in month, in line with the average increase of 38,000 jobs per month over the prior 12 months. Hospitals accounted for 16,000 of the jobs gained in September, and employment in ambulatory health care services continued to trend up (+13,000).
Employment in information sector jobs also continued on the upward trend with professional and business adding 12,000 in September. The nation’s mining sector, which has decimated in Arkansas’ Fayetteville shale play, continued on a downward spiral with 10,000 job losses for the month, bringing the yearly layoff total to 102,000. To view the full BLS report, click here.
HOT SPRINGS RUBBER BAND COMPANY EXPANDS INTO EXERCISE PRODUCTS: Alliance Rubber Co. of Hot Springs is now offering new exercise products to be sold at Walmart that will give enthusiasts an uncomplicated workout option outside the gym. The Workout Bands and the Resistor Strips help with toning, strengthening and stretching exercises, company officials said.
Each pack of the Workout Bands includes three non-latex bands with light, medium and heavy resistance that provides both positive and negative resistance. The Resistor Strips, which come two to a pack, help with restoring strength and improving flexibility.
MANUFACTURING CONSORTIUM ANNOUNCES PUBLIC-PRIVATE RESEARCH PARTNERSHIP: The National Science Foundation (NSF) and the U.S. Commerce Department’s National Institute of Standards and Technology (NIST) announced Friday the creation of a new consortium to identify new, emerging areas of advanced manufacturing that would benefit from shared public-private investment in research and development, education, and training.
The Alliance for Manufacturing Foresight (MForesight), which will be led by the University of Michigan at Ann Arbor, will provide a channel for rapid input from industrial, academic and other private sectors on future manufacturing technologies. Its work will help align advanced manufacturing research with national priorities and challenges to ensure efficient use of federal and private funding for the greatest possible return on investment.
The creation of the consortium, one of the recommendations by the President’s Council of Advisors on Science and Technology in 2014, was one of many announcements and events held in observance of national Manufacturing Day on Oct. 2. Manufacturers looking to participate in the program can visit here.