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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.
U.S. manufacturing continued to roll in 2017. Want proof? Look no further than Toyota Motor Corp. In September, the world’s largest automaker announced that it will invest $374 million at five U.S. factories.
Overall, 2016 has been a pretty good year for U.S. manufacturing. In every industry covered by ASSEMBLY magazine, manufacturers were investing in people, plants and equipment.
Economic activity in the manufacturing sector expanded in October for the fifth consecutive month, and the overall economy grew for the 53rd consecutive month, according to the latest data from the Institute for Supply Management.
WASHINGTON—U.S. factories expanded last month at the fastest pace since June 2011. The Institute for Supply Management said Tuesday that its manufacturing index rose to 55.7 in August from 55.4 in July. That topped the index’s 12-month average of 52.
In The Great Gatsby, the central character is captivated by a green navigational beacon off in the distance that gives him eternal hope. Although Jay Gatsby wasn’t thinking about assembly lines, manufacturing has a similar green light and assemblers are equally optimistic these days.
WASHINGTON—Americans are more positive about the economy than they have been at any time since Gallup began tracking economic confidence daily in January 2008.