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National Association of Manufacturers economic report

from National Association of Manufacturers

The manufacturing economy has hit some speed bumps, according to recent data. Industrial production declined 0.5 percent in April - more than expected - with capacity utilization levels back to where they were at the beginning of the year. The slower pace of domestic and global sales has negatively impacted activity, with production down mostly across-the-board. Only four of the 19 major manufacturing sectors experienced an increase in output for the month. Moreover, annual growth in manufacturing production of just 1.3 percent is insufficient, and such low rates of industrial growth are not enough to help boost hiring and output. Ideally, NAM would like to see annual output growth of 4.5 percent or greater, as outlined in its "20/20 Vision" earlier this year. more

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