Issues in the Brief
China’s new leaders recently revealed their economic reform agenda for the coming decade, and proposals cover the financial system, fiscal and tax policy, state-owned enterprises, urbanization and inward/outward foreign investment. The upcoming changes present both opportunities and challenges for foreign companies operating in China.
A recent survey of 73 CFO, Financial and Purchasing Council members found that the awareness of the importance of indirect spend is high but that the maturity levels of related programs vary. Indirect spend encompasses a company’s expenditures for items, resources and labor not directly tied to product manufacturing. Eighty-seven percent of the companies surveyed have a strategic procurement program in place.
2014 is already shaping up to be a big year in intellectual property news. With battles on trademarks, extensive hacking attempts, and ramifications from counterfeit goods, no company or sector is safe from IP threats.
Estimated at RMB 10.7 trillion as of the end of 2010, China’s local government debt has expanded rapidly over the past several years. The country’s fiscal position is not yet an acute concern, however, and will not likely pose immediate threats to economic growth.
The trade figures for 2013 raise important questions about the path ahead for trade in manufactures, both for the U.S. and China. As for U.S. policies to strengthen export competitiveness, little positive change can be expected this year. The outcome will depend on whether companies can work to become more cost competitive.
Europe’s Great Recession was longer and in some sense more painful than its American equivalent. In addition to the recession itself, some countries went through a crunch on their sovereign debts, shaking the political foundations of the European Union along the way.
Sustainable manufacturing is becoming an increasingly imperative goal for companies, with progress, goals, and achievements detailed in corporate annual reports and standalone sustainability reports. To identify common themes within this function, MAPI conducted an independent review of more than 100 online reports from member companies belonging to the Sustainability Council and Environmental, Health, and Safety Council.
In this audiovisual presentation, Dan notes that the federal shutdown deal and debt ceiling suspension lessen the uncertainty about economic prospects for the next couple of years. The demand mix in manufacturing will grow faster than the demand mix in the economy as a whole, particularly because of durable goods and energy.
The Eurozone as well as the entire European Union (EU28) technically dug out of recession when GDP growth turned positive in the second and third quarters of 2013. Yet the Eurozone’s economic activity remains weak. Industrial production fell in four out of the last six months, unemployment topped 12%, and inflation is undershooting the ECB’s target by a full percentage point.
Vice President and Chief Economist Dan Meckstroth reviews the most recent manufacturing data. Manufacturing production grew at a rapid rate, capacity utilization increased, exports are growing at a modest rate (but the trade deficit is not getting worse), capital equipment orders strengthened, and the manufacturing sectors continues to add jobs. The biggest constraint now is uncertainty about federal government finances and regulation.
Manufacturing Facts: A New MAPI Production, is a collection of the key facts and figures that define the state of the U.S. manufacturing industry.
Available for NFPA member companies’ exclusive, confidential, internal use only. No one may make or distribute copies or reuse all or any part of this report without the written permission of NFPA.
This report is made available by NFPA as a service to the fluid power industry and contains information provided by companies in the industry. NFPA does not recommend or endorse any particular use of this report. NFPA, its directors, members and employees are not responsible for errors or omissions in the report or for loss arising from its use and disclaim all warranties and guarantees, express or implied, with respect to the information in this report.
Chris is a Business Development Manager of Electrification for Parker Hannifin, a diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. Parker Hannifin will be exhibiting several hydraulic-electric hybrid systems for implement control in mobile applications at IFPE – the International…
NFPA recently met with Matt Purdy, the Director of Career Services at Murray State University. In this webinar, we discussed several ways to get in contact with university students looking to join the fluid power industry. Although our conversation was specifically with Murray State, the information that was discussed can be applied to reaching students…
This fall, NFPA’s schedule of Regional Meetings again includes Cleveland, scheduled for Thursday, November 3. This year it will be held at Merwin’s Wharf in downtown Cleveland. NFPA Regional Meetings offer a chance to meet with other area fluid power professionals over dinner. NFPA members and non-members alike are welcome to attend and as with all other…