RIMA News November 2018
Wishing You Success This Month...
Our job here at RIMA is to give you, the manufacturers, the ability and resources to continue and compete and grow among others in the industry. We are excited to share a number of upcoming events and stories with you!
RIMA'S First Congressional Summit!

On October 22nd, RIMA held our event at the Marriott Orms St in Providence. RIMA had over 170 people people in attendance along with several companies displaying their company information. The networking portion between 9am-10am was well received. The sit down breakfast was followed by questions strictly related to concerns facing the manufacturing sector. All members of the Congressional Delegation participated. Audience participation was encouraged and we had several questions on current issues as tariffs, energy and workforce development. The congressional Delegation all asked that concerns relative to manufacturers be brought to their attention as soon as they can. They want to help manufacturing to continue to prosper here in Rhode Island. They requested that their offices should be used as a resource to solving critical concerns of the manufacturing sector.
Upcoming Events!

RIMA's second Annual Manufacturing Awards Dinner January 24th, 2019 is just around the corner. This event honors individuals or a company who has
been instrumental in supporting the growth of manufacturing in Rhode
Island. The event is schedule to be held at the Squantum Association.
More information forthcoming.

Keep checking our events page to keep updated on new events and upcoming registration information!
Manufacturing Week Kickoff Event
October 3 rd , RIMA held a function at the Museum of Work and Culture in Woonsocket as part of the Nationwide celebration of Manufacturing. The event was attended by over 150 people. Over 20 manufacturers had tables on the first and second floor detailing their company operations. Food, beer and wine were available at no-charge. 
 Governor Raimondo presented a citation declaring Oct 1 st thru the 6 th as Rhode Island’s Manufacturing Week. She highlighted her commitment in supporting the continued growth of manufacturing in Rhode Island. She noted that a vibrant manufacturing sector is critical for Rhode Island’s continued economic success.
National Association of Manufacturers News...
NAM Survey: 2018 on Pace for Year of Record-High Manufacturer Optimism
On the heels of yet another positive employment report late last week showing 18,000 manufacturing jobs were created in September, the NAM released the third-quarter results of its Manufacturers' Outlook Survey, which shows 2018 is on pace for the highest yearly reading of manufacturer optimism in the survey's 20-year history. Optimism remains exceedingly high (92.5 percent) following enactment of tax reform and regulatory relief, with manufacturers across the country keeping our promise to invest in workers and communities and to take the lead on environmental stewardship and workplace safety. The four-quarter average rose to 93.9 percent, the highest one-year average on record. In addition, projected wage growth remains at the fastest pace in 17 years. "Tax reform and regulatory relief have spurred strong manufacturing growth, and manufacturers are now investing in our communities, hiring more Americans and raising wages and benefits"
NAM Manufacturers' Outlook Survey
In the latest NAM Manufacturers' Outlook Survey, manufacturing leaders in the United States continue to have unprecedented levels of optimism, spurred by improvements in the global economy and, in particular, by pro-growth policies such as tax reform and regulatory relief. Overall, 92.5 percent of respondents felt either somewhat or very positive about their own company's outlook. This continues the high rate of optimism reported since the beginning of 2017, including the 95.1 percent result in June, which was the highest rate since the introduction of the survey in the fourth quarter of 1997. The four-quarter rolling average inched up to a record-high 93.9 percent. Similarly, manufacturers' optimism for 2018 is on track to be the highest annual average in the survey's 20-year history.
Industry Week News
  •  IMTS has traditionally been the machining industry's Super Bowl: a flashy, noisy spectacle with the biggest names going their absolute hardest, with intermittent gorging on deep dish pizza, wings and beer. All these companies, from around the world, are competing to keep customers loyal by launching and demoing brand new tools and technology, while at the same time attempting to intercept someone else's prized clients. And there were a lot of potential customers to catch. In the first four days, the Association for Manufacturing Technology, which manages the show, registered 127,214 attendees. That's 12,000 more than the 2016 show with one day remaining. What does it all mean?
  • Manufacturing production increased 0.2 percent in September, rising for the fourth straight month and five of the past six months. The sector continues to see strong growth, with manufacturing output up 3.5 percent over the past 12 months, the best year-over-year rate since April 2012. Similarly, manufacturing capacity utilization inched up from 75.8 percent in August to 75.9 percent in September, matching the rate in April, with both at utilization rates not seen since August 2015. In September, durable goods production rose 0.6 percent, but output among non durable goods manufacturers edged down for the second consecutive month, off 0.1 percent for the month.
Global Manufacturing News
The International Monetary Fund (IMF) News
The IMF released the latest World Economic Outlook, projecting 3.7 percent growth in the global economy in both 2018 and 2019 and matching the pace seen in 2017. This is down slightly from an estimate of 3.9 percent globla GDP growth in its April report, primarily based on trade policy uncertainties and softness in developing economies. According to the authors, those challenges will continue to provide downside risks to the outlook moving forward. In addition, higher interest rates and a strong U.S. dollar could also pose significant concerns to the outlook in some economies, especially in the emerging markets. For its part, the IMF sees the United States expanding by 2.9 percent and 2.5 percent in 2018 and 2019, respectively.
**** Member Spotlight ****
This Month's Member in the Spotlight...
Interested in Membership?
Why Join RIMA?
We Advocate for Manufacturing
  • Let RIMA keep you informed on the local, state and federal levels critical issues
  • Ensure your concerns are being raised with government leaders of our state
We Promote Economic Improvement
  • We offer networking opportunities to our members
  • We promote and support a more competitive business climate
  • We collaborate with like-minded organizational partners to amplify our cross-industry interests throughout the state
We Help Solve Problems
  • A clearinghouse of information:
  • We connect you with local suppliers and potential customers
  • We can elevate your legislation and regulatory concerns to public officials
We Support Education and Workforce Development
  • RIMA's partner, We Make RI, develops career, education programs to help companies identify and secure talented workers through certified apprentice programs