Made In America: U.S. Factory Orders Beat Forecast, Buck Slump For Manufacturing

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U.S. FACTORY ORDERS BEAT FORECAST, BUCK SLUMP FOR MANUFACTURING
The U.S. Commerce Department reported last week that factory orders edged up slightly in February, providing a bright spot for the nation’s manufacturing sector after six straight months in the loss column.

Overall, new orders for manufactured goods in February increased by $800 million or 0.2% to $468.3 billion, the U.S. Census Bureau reported Thursday. This followed a 0.7% decrease in January. The highlights included upticks in shipments, unfilled orders and inventories in February.

However, new orders for manufactured durable goods in February backed up by 1.4% or $3.3 billion to $230.9 billion following a 1.9% jump in January. Fewer consumer purchases of long-lasting durable goods like refrigerators, cars and mobile phones were largely offset by increases in manufactured nondurable or soft goods like food and clothes, which rose by $4.1 billion or 1.8% to $237.4 billion.

A Reuters’ survey of U.S. economists has forecasted U.S. factory orders to decline in February by 0.5%. To view the February report, click here.

SHERWOOD AEROSPACE FIRM ANNOUNCES 8 NEW DEALS, WILL DOUBLE WORKFORCE
In an emotional ceremony where owners Gina and Wade Radke alternately laughed and cried about their 10-year odyssey as business owners, Sherwood-based Galley Support Innovations (GSI) announced plans to expand its current Sherwood location and double its 25-person workforce over the next three to five years.

The aerospace manufacturing firm that makes locks, hinges, latches and other interior parts for Dassault Falcon, Gulfstream, Boeing and other luxury aircraft builders also proudly publicized that the local company has won eight bids for “multimillion-dollar” contracts that are the impetus for the additional workers and larger facilities. Read more on the expansion here.

ENVIRO TECH CELEBRATES NEW FACILITY AT HELENA HARBOR
Gov. Asa Hutchinson joined local leaders and Enviro Tech officials in Helena-West Helena Tuesday to formally dedicate the California food safety and water treatment company’s new plant location in Helena Harbor, a port and industrial park located on the Mississippi River.

“It’s exciting to see Enviro Tech’s investment in Helena-West Helena, which brings new, good-paying jobs to the area and further signals that Arkansas, and the Delta, is open for business,” Hutchinson said during the ceremony. “Enviro Tech understands the value and advantage of locating within the Helena Harbor, which provides direct access to the Mississippi River as well as access to a dedicated local workforce. We welcome Enviro Tech to Arkansas and look forward to the company growing with us.”

TRUCKING ALONG: NATIONAL TANK TRUCK CARRIERS RELEASE REPORT ON COMMODITY SHIPMENTS
The National Tank Truck Carriers, Inc. (NTTC) recently released its Tank Truck Industry Market Analysis by American Trucking Associations’ Chief Economist Bob Costello. The NTTC commissioned the study at the request of its carrier membership to create an economic model to gauge the size and scope of the varied service segments within the tank truck industry.

“This new study offers first-rate economic market intelligence that never before existed leaving most to rely on anecdotal guesstimates about our unique industry at best,” said NTTC President Daniel R. Furth. “Now industry players can really gauge the varied service segments and their respective market shares and apply this intelligence to planning and operations. Moreover, the study gives us a solid baseline to track market trends by commodity types over time as new commodity flow information becomes available.”

Key findings of the study include the following metrics on tank truck tonnage, capacity, and revenue in 2013:

• In 2013, the tank truck industry hauled 2.48 billion tons of freight, which equaled 25.6% of all truck freight (9.68 billion tons).
• The largest commodity group for all tank truck freight was petroleum products (gasoline, diesel, and aviation fuel), which equaled 1.22 billion tons or 49.2% of all tank truck tonnage.
• In 2013, the tank truck industry generated $34.5 billion in revenue, which equaled 5.1% of all truck revenue ($681.7 billion).

Read more at this link.