The old adage ‘you can't manage what you can't measure’ has never been truer, especially in the industrial sector. Having the right data about your plant, your business, and the industry in general is essential if you want your company to thrive.
This monthly roundup highlights the reports, studies, surveys, and insights that are impacting the manufacturing industry. Here are this month’s stats.
Manufacturing ISM Report On Business
Economic activity in the manufacturing sector contracted in August for the fifth consecutive month
"The Manufacturing PMI registered 47.2% in August, up 0.4 percentage point from the 46.8% recorded in July. The overall economy continued in expansion for the 52nd month after one month of contraction in April 2020. (A Manufacturing PMI above 42.5%, over a period of time, generally indicates an expansion of the overall economy.)"
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Empire State Manufacturing Survey
Business activity grew in New York State for the first time in nearly a year
"The headline general business conditions index rose sixteen points to 11.5. New orders climbed, and shipments grew significantly. Delivery times and supply availability were steady, and inventories levelled off."
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Industrial Production and Capacity Utilization
In August, industrial production rose 0.8% after falling 0.9% in July
"The output of manufacturing increased 0.9% in August after decreasing 0.7% during the previous month. This pattern was due in part to a recovery in the index of motor vehicles and parts, which jumped nearly 10% in August after dropping roughly 9% in July."
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Philadelphia Manufacturing Business Outlook Survey
Manufacturing activity in the Philadelphia region was mixed overall
"The survey’s indicator for current general activity turned positive, while the indexes for new orders and shipments declined and turned negative. The employment index rose and suggested increases in employment overall."
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Manufacturers’ Shipments, Inventories, and Orders (M3) Survey
New orders for manufactured durable goods increased $0.1 billion in August
"This followed a 9.9% July increase. Excluding transportation, new orders increased 0.5%. Excluding defense, new orders decreased 0.2%."
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Texas Manufacturing Outlook Survey
Factory activity in Texas fell modestly in September
"The production index slipped to -3.2, with the negative reading signaling a slight decline in output from August. The new orders index was largely unchanged at -5.2. The capacity utilization index fell five points to -7.0, and the shipments index retreated back into negative territory, falling eight points to -7.0."
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Cutting Tool Market Report
Cutting tool orders increased 2.5% in July to $191.8 million
"Orders decreased 7.8% from June 2024 but were up 1.7% from July 2023. Year-to-date shipments totaled $1.46 billion, up 2.5% from shipments made in the first seven months of 2023. The year-to-date growth rate has been declining every month since April 2024."
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Fifth District Survey of Manufacturing Activity
Richmond area manufacturing activity remained sluggish in September
"The composite manufacturing index edged down from -19 in August to -21 in September. Of its three component indexes, shipments decreased from -15 to -18, new orders increased from -26 to -23, and employment fell from -15 to -22."
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U.S. Manufacturing Technology Orders (USMTO) Report
Orders of manufacturing technology totaled $321.7 million in July 2024
"Orders declined 19.3% from June 2024 and declined 7.8% compared to July 2023. Year-to-date orders reached $2.53 billion, a decline of 10.5% from the first seven months of 2023. July is typically one of the slower months of the year for manufacturing technology orders."
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