2008

The weakness in the U.S. economy shows no signs of immediate abatement, and significant challenges may last well into 2009, according to a new report.

The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts that inflation-adjusted gross domestic product (GDP) growth will slow to 1.6% in 2008 and decelerate to 1.3% in 2009. The 2009 GDP forecast is down from 1.9% growth projected in MAPI’s May report.

The Internal Revenue Service accelerated the payment of tax rebates this year under the economic stimulus plan, getting cash in consumers’hands earlier than expected,”said Daniel J. Meckstroth, Manufacturers Alliance/MAPI chief economist. “The cash windfall is only temporary, and we expect a corresponding decline in spending in fourth quarter 2008 and into …

Wholesale prices rose 1.2 percent in July, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This increase followed a 1.8-percent jump in June and a 1.4-percent rise in May.
 
At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 2.7 percent in July compared with a 2.1-percent gain in the prior month, and the index for crude materials for further processing climbed 4.2 percent subsequent to a 3.7-percent increase in June.
 
Among prices for finished goods, the index for energy goods rose 3.1 percent in July following a 6.0-percent jump in June. Price increases for finished consumer foods also slowed, from 1.5 percent in June to 0.3 percent in July. By contrast, partially …

Maintaining momentum from a strong 2007 and first quarter 2008, particularly in Brazil and Argentina, a new report projects Latin American-based manufacturers will continue to increase output this year and in 2009. According to the Manufacturers Alliance/MAPI Latin America Outlook: 2008-2009, a bi-annual analysis that examines the latest trends and provides a near-term forecast for 16 major industries, manufacturing production growth will decelerate in 2009.

The report focuses on Latin America’s three largest economies — Brazil, Argentina, and Mexico — as these countries are responsible for more than 80% of the region’s manufacturing output. MAPI raised its forecast for overall manufacturing output in Latin America in 2008 to 4.9% from its 3.8% forecast in the …

In current dollars, Canadian manufacturers reported $52.5 billion in sales in June, up 2.1% from May and the fifth increase in six months. In constant dollars, manufacturing sales increased 0.6% to $47 billion in June. Industrial prices for petroleum and coal, chemical products, wood products, and motor vehicles rose notably during the month.
 
By Sector
Increases were widespread as 14 of 21 manufacturing industries, representing 81% of total sales, reported gains.

The largest contribution to the gains in total manufacturing sales came from petroleum and coal product manufacturers. Sales increased by 6.4% in this industry, mirroring the 6.2% rise in prices observed for the month.

Sales by primary metal manufacturers …