State Chamber Update
The National Association of Manufacturers (NAM) reported today: "Manufacturing production declined 0.5 percent in September, falling for the sixth time year to date, but following a gain of 0.6 percent in August. The latest decrease was led
by a sharp decline in motor vehicles and parts production, down 4.2 percent, which was likely negatively impacted by the strike at General Motors. (A
was reached last week.) Excluding motor vehicles and parts, manufacturing production fell 0.2 percent in September."
And while nationally the figures are not good, NAM's report also outlined: "The New York and Philadelphia Federal Reserve Banks both reported expanding manufacturing activity in their districts, albeit with modest growth. Respondents felt positive in their outlook for the next six months.”
The NAM statement went on to say: “The data also continues to reflect struggles in the manufacturing sector related to weaker global growth and trade uncertainties. Manufacturing production has fallen 0.9 percent over the past 12 months, for instance, declining on a year-over-year basis for the third consecutive month.”