Economy

Additive manufacturing developer HP Inc. and professional services company Deloitte together will work to accelerate the digital reinvention of the $12 trillion global manufacturing industry. The two companies will collaborate on the implementation of HP’s 3D printing systems in large-scale manufacturing environments, applying their digital operations experience to help enterprises accelerate product design and production, create more flexible manufacturing and supply chains, and enhance efficiency across the manufacturing lifecycle.

Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 98th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. At 56.3 percent, the July PMI shows a decrease of 1.5 percentage points from the June reading of 57.8 percent.

Growth in China's manufacturing sector slowed marginally in July, reinforcing expectations that the world's second-largest economy will cool in coming months as borrowing costs rise and regulators clamp down on riskier types of financing. The official Purchasing Managers' Index stood at 51.4 in July, down from the previous month's 51.7 but still well above the 50-point mark that separates growth from contraction on a monthly basis. Analysts surveyed by Reuters had forecast that the reading would come in at 51.6, little changed from June.

"Without irony, Wal-Mart Stores on Wednesday outlined its recommendations to improve the U.S. manufacturing sector," writes Steve Goldstein for MarketWatch. "Wal-Mart could arguably be said to be a contributor to the demise of U.S. manufacturing, with its rapacious sourcing of consumer goods from China as it became the nation's dominant retailer. A 2015 estimate from the Economic Policy Institute, a left-leaning think tank, said Wal-Mart's trade deficit with China had displaced more than 400,000 U.S. jobs."

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.

Midwest Industrial Tool Grinding Inc., Hutchinson, Minn., has been named a finalist in the Workforce Development Award category for the Minnesota Business 2017 Manufacturing Awards.

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.