Economy

In the 1987 movie "Wall Street," the archetypal corporate villain Gordon Gekko memorably argues that “greed is good”—and that the bottom line is the only good a dutiful company need pursue. Thirty years on, Ethisphere Institute has announced 124 companies spanning five continents, 19 countries and 52 industry sectors as the 2017 World’s Most Ethical Companies honorees. Of these, four are in the category of Industrial Manufacturing: 3M Co., Deere & Co., Milliken & Co. and Timken Co. Kennametal Inc., Latrobe, Pa., is the only honored company in the category of Machine Tools and Accessories.

U.S. factory output increased for a sixth straight month in February while consumer sentiment rebounded in early March, underscoring the economy's resilience even as growth appears to have slowed significantly in the first quarter. That was supported by other data on Friday showing a gauge of future economic activity rose in February to its highest level in more than a decade.

According to the U.S. Bureau of Labor Statistics' monthly employment report, 28,000 new manufacturing jobs were added in the U.S. in February—more than double the January number. Over the past 3 months, manufacturing has added 57,000 jobs. The rate of increase in February marked the fastest pace of manufacturing job creation since late 2014.

Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 93rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The February PMI registered 57.7 percent, an increase of 1.7 percentage points from the January reading of 56 percent. The New Orders Index registered 65.1 percent, an increase of 4.7 percentage points from the January reading of 60.4 percent. The Production Index registered 62.9 percent, 1.5 percentage points higher than the January reading of 61.4 percent.

While the Trump administration focuses on trying to bring back coal-industry jobs, the outlook for renewable-energy employment, including in manufacturing, has increased. Solar showed bright prospects in 2016 and the wind industry is picking up.

Georgia will see an influx of more than 500 new aerospace manufacturing jobs at Columbus-based Pratt & Whitney, which reportedly will invest $386 million into expansion.

Down, but getting back up: December 2016 U.S. cutting tool consumption totaled $176.04 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT — The Association for Manufacturing Technology. This total was up 4.4 percent from November’s $168.69 million and up 12.5 percent when compared with the total of $156.49 million reported for December 2015, as reported by companies participating in the Cutting Tool Market Report collaboration. With a year-to-date total of $2.042 billion, 2016 is down 4.3 percent when compared with 2015.

AMT — The Association for Manufacturing Technology released its December 2016 U.S. Manufacturing Technology Orders Report this week, noting that orders finished 2016 down 4 percent compared to 2015. But the report also holds some good news: month over month data showed December orders up a whopping 20.6 percent compared to November.

The January 2017 Manufacturing ISM Report On Business, a national report that reflects the state of manufacturing throughout the United States, showed increased economic activity in manufacturing in the month of January, with overall economic growth for the 92nd consecutive month.