Report: U.S. manufacturing economic activity experiencing growth
Many industries in the United States have been slowly recovering since the 2008 recession, and the manufacturing sector is no different. Recent research shows that U.S. manufacturing has seen a recent increase in productivity, and experts continue to remain optimistic.
According to the Institute for Supply Management's U.S. manufacturing index, the sector expanded from 49 to 50.9 for June. Furthermore, of the 18 manufacturing industries, 12 reported growth.
Bloomberg Businessweek spoke with David Hensley, director of global economic coordination at JPMorgan Chase & Co. in New York. He explained that the growth rate at a global level is steady but not extreme. Even so, Hensley added that he expects the pace to pick up even more.
Michael DeWalt, director of investor relations for Illinois-based Caterpillar, spoke at a June 5 conference and was quoted by the news source. He said that his construction business was getting better.
"If you look at the three biggest end markets – U.S., Europe in general and China, with the exception of Europe, I think they're getting better but they have a lot of room to grow."
Drew Matus, deputy U.S. chief economist at UBS Securities LLC in Stamford, Connecticut agreed, saying that a majority of the positive things in the nation right now are domestically oriented. Regardless of any global issues, America is having its "own little renaissance," he said.
As companies work to keep pace in an evolving industry, having the right manufacturing business software will be greatly beneficial. Not only can this help employees remain organized, it will ensure that an organization has the capabilities to integrate any other innovations that come its way. Business management software solutions are an important step to keep the manufacturing sector on its continued growth path.