Week 49 in Manufacturing News

US Manufacturing Sector Slows in November; U.K. Manufacturing Expands as Imminent EU Exit Boosts Orders; Germany’s Partial Lockdown Slows Growth in Manufacturing – PMI; Industry 4.0 a National Priority.

US Manufacturing Sector Slows in November

The Institute for Supply Management (ISM) said on Tuesday its index of national factory activity dropped to a reading of 57.5 last month from of 59.3 in October, which had been the highest since November 2018. A reading above 50 indicates expansion in manufacturing, which accounts for 11.3 per ent of the US economy.

Economists polled by Reuters had forecast the index slipping to 58 in November.

Source: The Business Times

U.K. Manufacturing Expands as Imminent EU Exit Boosts Orders

U.K. manufacturing expanded at the fastest pace since 2017 as the recovery from Covid-19 disruptions was bolstered by firms bringing forward orders before the Brexit transition ends.

IHS Markit’s Purchasing Managers Index rose to 55.6 in November from 53.7 a month earlier, taking it further above the critical 50 mark that signals expansion. It beat a flash estimate published last month.

Source: Bloomberg

Germany’s Partial Lockdown Slows Growth in Manufacturing – PMI

Germany’s partial lockdown to contain a second wave of coronavirus infections slowed growth in the manufacturing sector in November but export-oriented companies remained optimistic thanks to strong demand from abroad, a survey showed on Tuesday.

IHS Markit’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the German economy, fell to 57.8 in October from the 2-1/2 year high of 58.2 reached in the previous month.

Source: Reuters

Industry 4.0 a National Priority

European Union member states have a wide variety of strengths, with plenty of opportunities for Singapore firms that are looking to invest, find partners, or enter new markets. Here is an overview of promising sectors, and key markets for each one.

THE EU is a leading manufacturing hub, with most member states having made Industry 4.0 a national priority. European manufacturers are staying globally competitive by adopting “future of manufacturing” solutions, such as the Internet of Things (IOT), blockchain technology, and robotics.

Source: The Business Times