Industry Trends & Analysis

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.

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.

Having worked in manufacturing since 1992, I've learned many things about machine shop marketing and branding from fellow shop owners. Some spend, literally, no money on marketing while others spend a lot. I've also learned what works and what doesn't.

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.

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.

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.

Working in the bleak midwinter while the metalcutting sector transitions through a downturn sounds like a recipe for the blues. But it doesn't have to be. When things are a bit slow, it can be a good time to do some housekeeping and other chores around the shop that get put on the backburner during more active times.

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.

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 Robotic Industries Association has announced that in 2016 the North American robotics market broke all-time records for orders and shipments. During the year, 34,606 robots valued at approximately $1.9 billion were ordered in North America, representing growth of 10 percent in units over 2015.