Inflation stays low
In the overall economy, there is no evidence of inflationary pressures bubbling to the surface, despite recent reports of a pick-up in the growth rate of wages and salaries in the U.S. The GDP inflation measure declined 0.
In the overall economy, there is no evidence of inflationary pressures bubbling to the surface, despite recent reports of a pick-up in the growth rate of wages and salaries in the U.S. The GDP inflation measure declined 0.2% during the first quarter of this year, and increased by a negligible 0.4% in the second quarter. This spell of low inflation has certainly been exemplified by the latest figures for producer prices. PRODUCER PRICE INDICES
Actual Annual change,%
June 98 1997 1998* 1999*
Intermediate goods 133.7 0.2 0.3 2.2
Finished goods 143.3 0.3 0.6 1.8
Mechanical power trans 157.6 2.2 1.9 2.5
Machinery and equip 125.1 -0.5 0.2 0.9
Material handling equip 131.1 1.8 1.4 2.2
Source: Bureau of Labor Statistics * Forecast: Cahners Economics
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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