Overall lead times beginning to ease
Lead times for three of the five products that we follow declined between the third and fourth quarters of 1998. Average lead times rose for pumps and special fasteners, but fell for gears, valves, and cylinders.
Lead times for three of the five products that we follow declined between the third and fourth quarters of 1998. Average lead times rose for pumps and special fasteners, but fell for gears, valves, and cylinders. Nevertheless, average 1998 lead times were much higher than in 1997, and shrinking manufacturing payrolls make it unlikely that average lead times will fall much if at all in 1999. LEAD TIMES
Weeks Change, %
November 1998 1997 1998 1999
Gears 5.1 -1.9 6.3 1.3
Pumps 5.1 -5.4 9.7 6.6
Special fasteners 7.2 -3.4 9.2 1.3
Valves 3.2 -6.9 8.1 2.8
Hydraulic cylinders 4.5 24.8 10.4 5.2
Source: Purchasing magazine and 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