Tag: U.S. Manufacturing

Ft. Lauderdale International Boat Show 2018

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https://www.flibs.com/en/home.html
November 1-5, 2017
801 Seabreeze Blvd, Fort Lauderdale, FL 33316

Fort Lauderdale International Boat Show 2017

The Ultimate Boat Show Experience!

Fort Lauderdale, Florida, the “Yachting Capital of the World” will host the 58th Fort Lauderdale International Boat Show on Nov 1- Nov 5, 2017. Show exhibits range from yacht builders and designers to exotic cars and brokerage yachts. A wide variety of boats will be on display including runabouts, sportfishers, high-performance boats, center consoles, cabin cruisers, flats boats, skiffs, express cruisers, sailing yachts, motor yachts, bowriders, catamarans, ski boats, jet boats, trawlers, inflatables, canoes, and extraordinary superyachts. FLIBS is exactly where you want to be!

https://www.flibs.com/en/home.html

According to the OIA Industry 2017 report, the outdoor recreation industry contributes $887 billion in consumer spending annually, provides 7.6 million jobs, generates $65.3 billion in federal tax revenue and $59.2 billion in state and local tax revenue.

http://boatingindustry.com/top-stories/2017/05/31/outdoor-recreation-industries-impact-u-s-economy/

 

“Made in the USA” Makes a Comeback

The trend of outsourcing to overseas suppliers and contractors may be losing some of its luster. Many businesses are returning to U.S. manufacturers — also known as re-shoring — to obtain goods faster and at lower costs than foreign suppliers can offer. Moreover, “Made in the USA” tags can win over domestic customers who want to feel good about their purchases. Continue reading ““Made in the USA” Makes a Comeback”

Manufacturers Had a Good Year and Expect 2015 to Be Better

Manufacturers Had a Good Year and Expect 2015 to Be Better

 

 

 

 

 

Recent data show relative strength in demand and output in the manufacturing sector, with activity levels reflecting improvements since earlier in the year. In particular, the latest Institute for Supply Management’s purchasing managers’ index has reflected robust growth in new orders and production since the summer, and employment and pricing pressures appear to be moving in the right direction. The forecast for real GDP and industrial production for 2015 also show promise, both of which are anticipated to expand by roughly 3% next year. Continue reading “Manufacturers Had a Good Year and Expect 2015 to Be Better”

What Happens When You Decide to Leave China?

What Happens When You Decide to Leave China?

 

 

 

 

Reshoring is the hottest trend in U.S. manufacturing. According to a recent study by Boston Consulting Group, 54 percent of all United States companies over $1 billion in revenues are planning or considering bringing at least some of their manufacturing back to the U.S. Continue reading “What Happens When You Decide to Leave China?”

For Some Vermont Manufacturers, ‘Made In USA’ Is An Important Label

For Some Vermont Manufacturers, 'Made In USA' Is An Important Label
Maple Landmark Woodcraft, a Middlebury toy company, got a boost in 2007 when toys imported from China were found to contain lead. Many Vermont manufacturers believe that if goods sold online were labeled with their country of origin, business would grow.
NINA KECK VPR

If you pick up an item in a gift store, chances are, you’ll find a little label telling you where it was made. U.S. law requires it for nearly every imported good.

But shop online, and country of origin information is much harder if not impossible to find.  Continue reading “For Some Vermont Manufacturers, ‘Made In USA’ Is An Important Label”

More “Made in U.S.A.” products expected as U.S. manufacturers consider reshoring from China

Original post on Connie Lee, Arirang News. (Asian News)

President Barack Obama has often credited U.S. manufacturers with bringing jobs back to America, as he did back in February during his State of the Union address.

“Caterpillar is bringing jobs back from Japan. Ford is bringing jobs back from Mexico. And this year, Apple will start making Macs in America again.”

Now, just half a year later, the U.S. is seeing more of this trend. Last month, Motorola opened up a new plant in Forth Worth, Texas, to build the nation’s first smartphone.
The plant created more than 2-thousand jobs. Google, which owns Motorola, says using the U.S. workforce is a smart business choice.

“We think this is a very, very safe bet. The reason is the math works. We get much more flexible products and the products themselves have been thoroughly well-reviewed.”

And it looks like more American companies are about to join the so-called “reshoring” movement to bring outsourced jobs back to the U.S. According to a recent survey by the Boston Consulting Group more than half, or 54-percent, of executives at major manufacturing companies say they are considering or planning to bring production back to the U.S from China.
That’s an increase from a year earlier in February 2012, when 37-percent of executives said the same.  The most common reason cited by executives for making this decision is labor costs.

Wages in China have been increasing about 15-to-20 percent per year, whereas wages in the U.S. manufacturing industry have risen less than 2-percent a year since 2011. Meanwhile, the Financial Times also reports that reshoring and rising exports could add up to 1.2 million jobs by the end of the decade but the effect would vary depending on the industry.

Connie Lee, Arirang News.

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U.S. Manufacturers Gain Ground

By: James Hagerty

After more than a decade of losing ground to China and other export powerhouses, U.S. manufacturers are finally showing signs of regaining their competitive edge.

The U.S. deficit on trade of manufactured goods in this year’s first half shrank to $225 billion from $227 billion a year earlier, according to data compiled by Ernest Preeg, an economist and trade expert at the Manufacturers Alliance for Productivity and Innovation, an industry-funded research group in Arlington, Va. The improvement, while slight, came after years of ballooning deficits as the U.S. lost manufacturing business to China, South Korea and other nations.

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“It’s a hopeful sign,” said Mr. Preeg, who derives his tally of manufactured-goods trade from official U.S. data, leaving out other types of merchandise, such as grain or coal. “At least we’ve leveled off.”

His findings come as Boston Consulting Group—a leading proponent of the idea that U.S. manufacturing will come roaring back—predicts a surge in U.S. exports, partly helped by lower energy costs and stagnating wages. In a report for release Tuesday, BCG says rising exports and “reshoring” of production to the U.S. from China “could create 2.5 million to five million American factory and service jobs associated with increased manufacturing” by 2020. That, BCG says, could reduce the unemployment rate, currently 7.4%, by as much as two to three percentage points.

The overall U.S. trade deficit, meanwhile, narrowed recently, as new shale-drilling technologies have sharply boosted domestic energy production.

At present, about 12 million Americans are directly employed by manufacturers, down from nearly 17 million two decades ago. The Obama administration has made a manufacturing recovery a top priority, and major corporations are striving to showcase their efforts to create manufacturing jobs. On Thursday, Wal-Mart Stores Inc. is due to host 500 suppliers in Orlando, Fla., to discuss its “commitment to leading an American renewal in manufacturing” by buying more U.S.-made goods.

Europe’s long-running slump, slower growth in China and a stronger dollar have been headwinds for U.S. exporters, but many have managed to expand overseas sales.

Harley-Davidson Inc. continues to add dealers abroad. “We’re very excited about the growth prospects in our international businesses,” John Olin, chief financial officer, told analysts last month. The Milwaukee-based company recently said retail motorcycle sales jumped 12% in the Asian-Pacific region and 39% in Latin America in the second quarter.

Like many U.S. manufacturers, Harley since the 2008-09 recession has revamped its operations to create a smaller and more flexible workforce, resulting in annual cost savings of more than $300 million and making the company more competitive. Among the changes: The union at its plant in York, Pa., accepted the use of temporary workers, who can be dismissed without severance pay. The number of job classifications at York also fell to five from 62, so workers have a wider variety of skills and can go where needed. As restrictive working rules were eliminated, a 136-page labor contract was replaced by a 58-page document.

Evan Smith, president of Hanover, N.H.-based Hypertherm Inc., said sales of its metal-cutting tools have been growing this year in the Middle East and Latin America. Opening a distribution center in Brazil helped, he said.

Minneapolis-based Graco Inc. has increased sales in Central and Eastern Europe of equipment used to spray paint and other coatings on roads, bridges and buildings, said spokesman Bryce Hallowell.

Big companies, such as Caterpillar Inc. and General Electric Co., have moved some production back to the U.S. in recent years. Some foreign companies, such as tire maker Bridgestone Corp. of Japan, have expanded U.S. capacity, partly to serve customers in the Americas.

As the boom in shale “fracking” lowers natural-gas and electricity prices in the U.S., and wages stagnate, “the U.S. is steadily becoming one of the lowest-cost countries for manufacturing in the developed world,” the BCG report said. The U.S. will have an edge over rival manufacturing nations in energy costs, along with lower productivity-adjusted labor costs than Germany, Japan, France, Italy and Britain, the report said. That will allow the U.S. to grab a larger share of global manufacturing sales.

“This is a fundamental economic shift,” said Harold Sirkin, a senior partner at BCG, who helped write the report. “The trends are going faster than we thought,” he said, adding: “As much as people say we don’t make anything anymore, it’s just not true.”

Even so, the U.S. has lost much ground over the past 15 years, largely because of China’s surging growth and focus on exports. The U.S. accounted for 11% of global exports of manufactured goods in 2011, down from 19% in 2000, Mr. Preeg said. During the same period, China’s share rocketed to nearly 21% from 7%, and the European Union slipped to 20% from 22%.

China’s performance has cooled recently. U.S. exports of manufacturing goods to China surged 19% to $19.9 billion in the second quarter, Mr. Preeg said, but that is about one-fifth of China’s manufacturing exports to the U.S.

U.S. manufacturers still face big hurdles. Many can’t find enough skilled workers to operate and repair sophisticated computer-controlled machinery, a shortage worsened by the retirement of baby boomers. Faster economic growth in China, India and Brazil means many global companies still want to open more plants there. A U.S. corporate focus on quarterly results sometimes deters investment in factory equipment, while many U.S. firms say they pay higher taxes and get fewer subsidies than foreign rivals.

Meanwhile, China no longer relies heavily on labor-cost advantages to get a leg up on other countries. As wages rise, China has shifted to more exports of higher-tech items, including telecommunications equipment, computers and scientific instruments, Mr. Preeg said. Only about 15% of China’s manufacturing exports are in labor-intensive industries, such as textiles or shoes, he said.

Write to James R. Hagerty at bob.hagerty@wsj.com

A version of this article appeared August 19, 2013, on page A1 in the U.S. edition of The Wall Street Journal, with the headline: Manufacturers Gain Ground.

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