Economy

Driven by improving demand and steady global economic recovery, Taiwan's manufacturing output in terms of revenue is expected to grow 3.87 percent to NT$17.54 trillion (US$576 billion) this year, said the Industrial Technology Research Institute's Industrial Economics and Knowledge Center. Meanwhile, IEK said that in value-added terms, Taiwan's machine tool industry is the worst-performing segment behind all other segments of the manufacturing sector.

The U.S. Manufacturing Technology Orders report for May 2017 showed gains for the month and year over year, according to AMT – The Association For Manufacturing Technology. May orders were up 3.1 percent over April, and 21.8 percent over May 2016.

The U.S. Bureau of Labor Statistics reports that manufacturing employment rose by only 1,000 in June after falling by 2,000 in May. Manufacturing sectors with gains in June included machinery, electrical equipment and appliances, primary metals, and computer and electronic products.

Economic activity in the manufacturing sector expanded in June—up 2.9 percent from May—and the overall economy grew for the 97th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

The CECIMO General Assembly that recently concluded in Rotterdam confirmed that, based on solid booking numbers, the European production of machine tool is set to grow by almost 4% in 2017 and surpass a volume of 25 billion euro. Members also agreed that policy-makers should refrain from designing strict regulations on access to and sharing industrial data. CECIMO is the European association representing the common interests of the Machine Tool Industries globally and at EU level.

When was the last time you took a serious look at your supply chain? You may be surprised to learn that many of the advantages to offshoring have eroded in recent years.

"Keeping manufacturing jobs from going overseas" is the top recommendation Americans give as the best way to create more jobs in the U.S. Many also suggest reducing government regulation, lowering taxes, creating more infrastructure work and improving education. These responses, from a May 3-7 Gallup poll, are generally similar to what Gallup found when it asked this open-ended question in 2009 and 2011 -- except education, which is mentioned more frequently this year than in the past.

Economic growth is expected to continue in the U.S. throughout the remainder of 2017, say the nation's purchasing and supply executives in their Spring 2017 Semiannual Economic Forecast. Expectations for the remainder of 2017 continue to be positive in both the manufacturing and non-manufacturing sectors. Sixty-four percent of respondents from the panel of manufacturing supply management executives predict their revenues will be 8.5 percent greater in 2017 compared to 2016, 12 percent expect a 9.6 percent decline, and 24 percent foresee no change in revenue.