U.S. Manufacturing Update June 2014
In this presentation, MAPI Vice President and Chief Economist Dan Meckstroth reviews the most recent manufacturing data. Industrial activity in May was very encouraging and manufacturing production grew at a rapid rate; factory capacity utilization rose to its highest level since the recovery began. Capital equipment orders continue to grow at a moderate rate and the manufacturing sector keeps adding jobs.
The biggest constraint is that exports are growing at a very modest rate but imports, which are half again as large, are growing faster than exports, so the manufacturing trade deficit is worsening.
After increasing 2.6% in 2013, MAPI forecasts that manufacturing production will increase 3.2% this year and accelerate to 4.0% growth in 2015.
The MAPI Foundation
Manufacturing executives, policymakers, the media, and the association community rely on the MAPI Foundation’s unbiased research, forecasting, and rich analyses to gain unbiased insight into the challenges and opportunities facing the manufacturing sector. Our highly respected economists and business analysts use proprietary models to generate regular forecasts for global manufacturing activity. They also produce data-driven policy analyses that provide insights into major topics influencing manufacturing competitiveness, including energy, tax, the labor market, global trade, innovation, and regulations. Our team regularly delivers keynote presentations at major industry events and board meetings, and for major media outlets we serve as a trusted expert on the manufacturing economy.
The foundation is the research affiliate of the Manufacturers Alliance for Productivity and Innovation. Founded in 1933, MAPI contributes to the competitiveness of U.S. manufacturing through professional development and executive education. Rather than lobbying, we leverage our position as a thought leader to raise awareness of what U.S. manufacturing needs to remain innovative, productive, and best in class.