U.S. manufacturers have faced significant headwinds this year: supply chain problems, a skilled labor shortage, inflation, and the war in Ukraine. And yet despite these issues—or perhaps, because of them—manufacturers continued to invest in people, plants and equipment.
With the pandemic subsiding and consumer spending on the rise, manufacturers are investing in their assembly operations.
December 7, 2021
In February 2020, U.S. manufacturers employed nearly 12.8 million people. Then came the COVID-19 pandemic. In an instant, the country lost 1 million manufacturing jobs as governments and businesses scrambled to figure out how best to stop the spread of the disease.
Good news! According to a new survey of global businesses conducted by American Express and the Centre for Business and Economic Research (CEBR), U.S. companies are the most bullish and optimistic when it comes to business-to-business (B2B) spending than companies in five other industrialized countries.
WASHINGTON—New orders for U.S.-made goods increased solidly in September, but further gains could be limited amid an anticipated slowdown in consumer spending as government money for businesses and workers impacted by the COVID-19 pandemic runs out.
SEDGEFIELD, UK — Filtronic, a designer and manufacturer of antennas, filters and millimeter wave products recently announced that it has invested $1.3 million in new equipment for its manufacturing facility here.
In September, Toyota announced that it will invest $391 million in its truck assembly plant in San Antonio. Hyundai announced that it is investing nearly $300 million in its factory in Montgomery, AL. Brake manufacturer Bendix Spicer began construction on a $65 million expansion of its assembly plant Bowling Green, KY. And, automotive supplier Hirotec Group said it will invest $48 million to build a new assembly plant in Fayetteville, TN.
The past year brought blockbuster headlines for U.S. manufacturing. Taiwanese electronics giant Foxconn unveiled plans to build a $10 billion assembly plant in Wisconsin that would make liquid-crystal display panels and employ as many as 13,000 people.
WASHINGTON—U.S. factory production rebounded in June by the most in four months as the industry regained its footing after a fire-related disruption at an auto parts supplier, Federal Reserve data showed Tuesday.