“Our review of the literature, from the Philadelphia Federal Reserve to the Institute for Supply Management, indicates manufacturing will continue to get stronger for the remainder of this year and into next year. This is great news for communities that are looking to strengthen this important sector of their economy.” – Eric Kleinsorge, CEO, World Economic Development Alliance (WEDA)
The Federal Reserve report indicates that the national monetary organization’
The Institute for Supply Management, an industry member group, also expects growth in the manufacturing sector.
“The June PMI® registered 55.3 percent, a decrease of 0.1 percentage point from May's reading of 55.4 percent, indicating expansion in manufacturing for the 13th consecutive month. The New Orders Index registered 58.9 percent, an increase of 2 percentage points from the 56.9 percent reading in May, indicating growth in new orders for the 13th consecutive month. The Production Index registered 60 percent, 1 percentage point below the May reading of 61 percent. Employment grew for the 12th consecutive month, registering 52.8 percent, the same level of growth as reported in May. Inventories of raw materials remained at 53 percent, the same reading as reported in both May and April. The price of raw materials grew at a slower rate in June, registering 58 percent, down 2 percentage points from May."– Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee
Based on this information, the World Economic Development Alliance is expecting significant increases in economic development projects in the second half of 2014 and early 2015.
“Our organization gives companies seeking new locations to expand or relocate FREE assistance. We are expecting to get a flurry of calls as manufacturers begin looking to increase their capacity to keep up with increased orders.” - Eric Kleinsorge, CEO, World Economic Development Alliance (WEDA)
The World Economic Development Alliance (WEDA) has been helping companies and economic development organizations connect with each other for over 18 years. WEDA is the only proven, full-service consulting firm specializing in assisting corporate site locators find new sites and economic development professionals create new jobs for their communities. WEDA executives have assisted hundreds of companies in locating their new facilities which has resulted in thousands of new jobs and millions of dollars in capital investment.