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💴 This Week in Manufacturing

As the old saying goes, you have to spend money to make money. That holds true for the manufacturing industry, too. This is a strong thread running through our latest monthly industry report, which details strong investment even as costs remain high. 

The July monthly industry review and report highlight the fourth straight month of decline in the ISM with the PMI lowering to 46.8%. But the July data also showcase strong investment in a range of new facilities. This underscores the overall resilience and innovative spirit across American manufacturing.

Next, this week’s headlines have standouts such as pharmaceutical innovation, American strength against overseas competition, longevity in green energy, and more!

This week’s podcasts dive into the long-term impacts of the IRA legislation (The Manufacturing Executive) and AI across industries (The Next Great Thing). 

Take a minute and cool off with our Social Video, it’s worth a minute of your time this summer.

Finally, our Fun Fact highlights the optimistic investments across manufacturing. We’re not going anywhere!

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⚙ Manufacturing Headlines

• A Drug That Could Save More Lives Than Ozempic Or Wegovy [Forbes]

• Is U.S. industrial renaissance built to last? [Milwaukee Journal Sentinel]

• July manufacturing industry data review [CompanyWeek]

• LYB, Renault & Antolin unveil foamed material for Renault Rafale [Fibre2Fashion]

• 6K Additive Joins in Sustainable Metal 3D Printing R&D [3D Print.com]

• Illuminate USA celebrates production of one-millionth solar panel [Renewable Energy Magazine]

MONTHLY REVIEW

♨️ US Manufacturing Insights - July

U.S. manufacturing activity showed mixed signals in July 2024, with major new investments and facility openings occurring against a backdrop of uncertain economic data.

The July manufacturing data tell a story of split personalities between optimistic new openings and lingering inflation pains. Companies across industries have made significant investments in new state-of-the-art facilities, pointing to longer-term confidence despite near-term headwinds.

Output and employment both continued to rise but at substantially softer paces compared to June. On a more positive note, the selling price index hit a one-year low, with input cost inflation moderating for the second straight month.

Upshot: As the sector navigates persistent economic uncertainty, the coming months will indicate whether the major capital commitments made in July represent outliers or a durable trend.

FROM THE FEED

📱Ice manufacturing process

🤨Did You Know?

Over the next decade, the manufacturing industry has planned to build

300 new facilities

^{Source: Deloitte}

🎧 Podcasts Worth A Listen

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