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.

Publish Date: 
Thursday, June 19, 2014
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