2008

Hopes for something more than a temporary rebound in the U.S. economy anytime soon could be frustrated, but the manufacturing outlook in particular might be somewhat brighter due to continuing strength in exports, according to a new report.
 
The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts that inflation-adjusted GDP growth will slow to 1.3% in 2008 before improving to 1.9% in 2009. The 2009 forecast is down from 2.5% projected in the February outlook. By supplying major assumptions for the economy and running simulations through the Global Insight Macroeconomic Model, the Alliance generates unique macroeconomic and industry forecasts.
 
The 2008 recession looks like it is going to be milder and more prolonged rather than normal,”said Daniel J. …

An increased confidence during the first quarter of 2008 replaced last quarter’s concerns about the economy when a significant drop in plans for hiring led to a steep decline in the confidence of distribution and wholesale companies during the fourth quarter of 2007, according to the latest Small Business Research Board (SBRB) report issued today.
 
The Distribution &Wholesale Industry Small Business Confidence Index increased to 40 during the first quarter of 2008, or by nine points (29%), from the 31 recorded during the prior quarter.
 
The first quarter 2008 report is the third wholesale and distribution industry confidence index issued. Inclines in two of the three major categories comprising the confidence index contributed to the higher first quarter results. …

Source: Statistics Canada
 
Canadian manufacturers gave back some of their recent gains in March as factory sales retreated 1.6% to $49.0 billion.
 
The scope of March’s slowdown was extensive as 18 of the 21 manufacturing industries, representing 76% of total sales, posted declines. A sharp downturn in motor vehicle manufacturing was the chief contributor.
 
Sales were down 7.7% compared with the peak level of $53.1 billion set in March 2007.
Manufacturing activity falters during the first quarter
 
In the first quarter of 2008, manufacturing sales fell 5.5% to $143.8 billion compared with the same period one year earlier. The ongoing slump in the auto …

Industrial production declined 0.7 percent in April after having risen 0.2 percent in March. Manufacturing output fell 0.8 percent in April.
 
As was the case in March, factory output in April was held down by a large drop in the index for motor vehicles and parts; strikes and strike-related parts shortages resulted in suspended production at many facilities.
 
Excluding motor vehicles and parts, manufacturing production fell back 0.4 percent after having increased 0.3 percent in March.
 
In April, the output of utilities rose 0.3 percent, and the output at mines decreased 0.8 percent. At 111.2 percent of its 2002 average, overall industrial production was 0.2 percent above its year-earlier level.
 
The rate of capacity utilization for total …