The Tortoise and the Hare in 2011 Manufacturing

There's no doubt in anyone's mind that 2009 was a rough year for our industry. We saw many shops (and friends) struggle as reduced orders and suppressed demand created a feedback loop that looked pretty grim. Then the calendar turned and 2010 brought with it a dramatic bounce in the stock market, and signs of life in manufacturing. So what do we think about 2011?
Two words - watchful optimism. Why? Not because of the impressive growth on wall street. Not because of reports of increasing employment or strong year-end consumer spending. While those things are welcome and positive, they're also a bit erratic. Constantly up and down, sometimes dramatically so. No, we're optimistic because in all the chaos and uncertainty of the past two years, our industry - manufacturing - has been plugging away, slowly gaining steam. And manufacturing is a bedrock of a solid economy.
How solid? The Institute for Supply Management index of U.S. manufacturing reports 17 consecutive months of slow, steady growth. The index has hovered in the mid- and upper-50's for that time. And while it's much higher than that in boom times, anything above 50 means growth. Any growth is good, but 17 months of consistent growth - even if it's modest - is something that builds confidence in what's to come.
As we all learned when we were kids, sometimes slow and steady wins the race!
*Re-posted from the Mastercam Blog
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