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💴 This Week in Manufacturing

Cautious optimism is often seen as indecision, but in this economic climate, there’s nothing wrong with playing it safe. Slow and steady wins the race, after all! Our second monthly industry report details how positivity is slowly permeating the manufacturing industry, while there is still work to be done.

The May monthly industry review and report highlights an uptick in the S&P Global US Manufacturing PMI. This indicates growth due to expansion in new orders. There were also an exciting number of new facility openings in a variety of focus areas. Deep dive into the data now!

Next, this week’s headlines cover the nation bouncing from strength to strength in electric vehicles, sustainable packaging, solar module output, and more.

Both of this week’s podcasts highlight important areas of modern growth: innovation and the next generation. Enjoy listening to Heavy Hitters and The Manufacturing Executive.

Finally, our Fun Fact shines a light on an enduring consumer trend that manufacturers must pay attention to: sustainability.

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⚙ Manufacturing Headlines

• Kempower gets the green light to start production in the USA [electrive]

• Honda Pioneers U.S. Hydrogen Vehicle Production [The EV Report]

• May manufacturing industry data review [CompanyWeek]

• Boost in US Manufacturing Spurs Construction Boom [Commercial Property Executive]

• Total U.S. solar module manufacturing capacity grows by 71% in Q1 2024 [PV Magazine]

• BASF unveils biomass-balanced ecoflex for sustainable packaging [Fibre2Fashion]

MONTHLY REVIEW

♨️ US Manufacturing Monthly Insights - May

The manufacturing sector had mixed results in May but indicated modest growth driven by a return to expansion in new orders.

Despite the near-term demand and cost pressures, the manufacturing outlook remains cautiously optimistic. Production and employment continued to grow, while business confidence picked up with firms expressing positive expectations for the coming months.

The S&P Global US Manufacturing PMI ticked up slightly, indicating modest growth driven by a return to expansion in new orders. Positive views of the future supported job gains and inventory building last month.

Upshot: Business confidence picked up with firms expressing positive expectations for the coming months. Moreover, 147 manufacturing facility openings and expansions were announced in May, spanning strategic sectors.

FROM THE FEED

📱DoD created the internet

 🤨 Did You Know?

Sustainability is a valuable purchase criterion

for 60%

of consumers globally.

^{Source: Mau Workforce Solutions}

🎧 Podcasts Worth A Listen

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