Industry Trends & Analysis

In 2020, companies in the industrial supply sector should be neither bullish nor bearish but remain status quo. Consider the mixed U.S. economic performance in 2019 that benefited from an unexpected rise in the employment labor participation rate and corresponding lower unemployment rate but from a gross domestic product standpoint saw a dip compared with 2018.

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The manufacturing industry got a huge boost from President Donald Trump's election, seeing a groundswell of job gains during his first year in office. But the trade war with China has undone that progress. Jobs in the sector have stalled out and turned negative in 2019.

Industry experts foresee a respectable 2020 for manufacturing.

Terry Iverson, author of Finding America's Greatest Champion, discusses manufacturing careers with a millennial who attended the Fall 2019 meeting of the United States Cutting Tool Institute.

Most political analysts agree that Donald Trump won the presidency on the backs of long-suffering blue-collar workers in industrial states. His campaign was propelled by a promise to revive manufacturing through trade, tax and regulatory policies. After nearly three years in office, the results are unfortunately tepid in terms of engineering a real boom in this sector, and the trends in recent months signal spreading weakness. Nonetheless, manufacturing is stronger than it was when he took office, and policy support is still in place for growth. Headwinds from trade policy and political uncertainty, however, are restraining a more robust growth path.

In the 2019 Harbor Freight Tools for Schools Prize for Teaching Excellence, three $100,000 first-place prizes were awarded to Cesar Gutierrez, a manufacturing teacher from Tucson, Arizona, Wendy Schepman, a landscape operations teacher from Stuart, Florida, and Brent Trankler, a welding teacher from Sikeston, Missouri, with the prize winnings shared between the individual teacher or team and their high school skilled trades program.

The cumulative stress of President Donald Trump's escalating trade war is leading to if not an irreparable breach between the U.S. and China, then certainly a significant fraying. Trade talks notwithstanding, the rising cost of the tariffs is already inducing some U.S. manufacturers to exit China. But in most instances, they are not returning to home shores.

Our discourse on the manufacturing renaissance is marked by a failure to take hysteresis into account. First, I will select representative voices from the discourse. Then I will present a bracing article from IndustryWeek. I'll conclude by merely alluding to remedies.

Many of America's leading entrepreneurs have immigrant backgrounds, playing a vital role in driving innovation and economic growth. In this article, Eurotech Gold customer Victor DaCruz, owner, and his wife, Betty DaCruz, the chief financial officer and human resources director of DACRUZ Manufac-turing, Bristol, Connecticut, share their company's business philosophy and the history of how his family started in business.

Things seem to be going very well for American manufacturing. Since 2009, 1.2 million manufacturing jobs have been created. The fracking industry has significantly lowered energy costs. Unemployment has reached a low of 3.8%, and 145,000 jobs were re-shored in 2018. We have had 10 years of growth since the Great Recession, and many articles in the past year suggest that the U.S. is in a manufacturing renaissance. But are we?

The economy is not just the stock market. A number of factors contribute to the overall health of the economy, and one of them is manufacturing. Although the jury is still out on whether a recession is coming for the broader economy, some people are concerned that a recession has arrived in the manufacturing sector.