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NEWSLETTER
Manufacturing Risk Advisor

Manufacturing Risk Advisor

First Quarter 2019

ISM RELEASES 2019 MANUFACTURING FORECAST

The Institute for Supply Management (ISM) has released its economic forecast for the manufacturing industry in 2019. Although a slowdown is expected when compared to 2018, the institute still believes there will be significant growth. In fact, the forecast predicts that 17 different manufacturing sectors will see increased revenues in 2019.

Here are some other key findings from the forecast:

  • Revenue is expected to increase by 5.7 percent.
  • Exports should slow down significantly amid the strength of the U.S. dollar and ongoing trade disputes.
  • The price of raw materials will increase by 3.3 percent.
  • Manufacturers are currently operating at 85.2 percent capacity, on average.
  • Capital expenditures will increase by 6 percent over last year, compared to a 13.4 percent increase from 2017 to 2018.
  • Employment will grow by 2.4 percent. Also, 77.9 percent of manufacturers said they had difficulty hiring workers to fill open positions in December 2018.
  • Tariffs are leading 65.2 percent of businesses to evaluate new sources of supplies and change their existing manufacturing footprints.

 

SURVEY FINDS HYGIENIC WORKPLACES INCREASE EMPLOYEE HAPPINESS

In a recent survey from Tork, a workplace hygiene company, 94 percent of manufacturing employees stated that safe and clean work environments increase their happiness. The survey also found that operational efficiency and the organization of work environments were two other top contributors to employee happiness.

Since manufacturing requires constant attention to detail in order to increase capacity while minimizing safety hazards, hygiene is an especially important topic. Cleanliness is key to keeping your employees healthy and productive in the workplace, and maintaining a hygienic workplace has other benefits too—your equipment can only operate at peak efficiency when it’s well-maintained and free from debris.

Contact (208) 672-6180 today for resources to keep your facility hygienic and hazard free.

 

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