New paradigm or twilight zone?
Economic growth remained strong through the third quarter of 1997, and early signs pointed to a good fourth quarter as well.
Economic growth remained strong through the third quarter of 1997, and early signs pointed to a good fourth quarter as well. So why have leadtimes been so well behaved? Economists talk of a new paradigm in which the bar is being raised for the long-term growth potential for the economy. Any pressure now felt on leadtimes should lessen in 1998. Watch for continued, albeit minor, declines in leads during the coming year.
Dec.1997 Change % 1996 1997 1998
Gears 4.2 -7.6 -1.9 -5.6
Pumps 4.2 -5 -5.4 -1.9
Special fasteners 6.2 -4.7 -3.4 0
Valves 3.2 -0.4 -7 -2.7
Hydraulic cylinders 5.8 -16.5 24.8 -0.5
Historical data: Purchasing Magazine. Forecasts: 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