MAPI report: Manufacturing growth to outperform GDP

The Manufacturers Alliance for Productivity and Innovation projects the manufacturing industry should outperform overall GDP growth through 2013.

03/29/2012


The U.S. manufacturing recovery continues on track and should outperform overall GDP growth through 2013, according to the Manufacturers Alliance for Productivity and Innovation (MAPI) U.S. Industrial Outlook, a quarterly report that analyzes 27 major industries.

“There exists pent-up demand for consumer durable goods, particularly for motor vehicles, and firms are profitable and need to spend more for both traditional and high-tech business equipment,” said Daniel J. Meckstroth, Ph.D., MAPI chief economist and author of the analysis. “In addition, strong—though decelerating—growth in emerging economies is still driving U.S. exports.”

Despite the fact that the global economy remains volatile, Meckstroth said the risk of recession for the U.S. has receded in the last three months.

“Although political and military risks cannot be directly modeled, the financial market conditions and long lead time economic indicators are less threatening,” he noted.

The report offers economic forecasts for 24 of the 27 industries. MAPI anticipates that 20 of the 24 industries will show gains in 2012, led by housing starts with 22% growth, albeit from severely depressed levels in 2011. Manufacturing industrial production increased 4.5% in 2011. MAPI forecasts that it will increase 4% in 2012 and 3.5% in 2013. The 2012 forecast is up 1% and the 2013 forecast is down 0.5% from the December 2011 report. Manufacturing production should outperform GDP growth, which MAPI estimates will be 2.2% in 2012 and 2.4% in 2013.

According to the report, non-high-tech manufacturing production (which accounts for 90% of the total) is anticipated to increase 3% in both 2012 and in 2013. High-tech industrial production (computers and electronic products) is projected to expand by 4% in 2012 and show 9% growth in 2013.



No comments
The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
IIoT grows up; Six ways to lower IIoT costs; Six mobile safety strategies; 2017 Salary Survey
2016 Top Plant; 2016 Best Practices on manufacturing progress, efficiency, safety
2016 Product of the Year; Diagnose bearing failures; Asset performance management; Testing dust collector performance measures
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
What controller fits your application; Permanent magnet motors; Chemical manufacturer tames alarm management; Taking steps in a new direction
Tying a microgrid to the smart grid; Paralleling generator systems; Previewing NEC 2017 changes
Package boilers; Natural gas infrared heating; Thermal treasure; Standby generation; Natural gas supports green efforts

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the vital role of plant safety and offers advice on best practices.
This article collection contains several articles on preventing compressed air leaks and centrifugal air compressor basics and best practices for the "fifth utility" in manufacturing plants.
Maintenance Manager; California Oils Corp.
Associate, Electrical Engineering; Wood Harbinger
Control Systems Engineer; Robert Bosch Corp.
click me