Over the past several months we’ve seen positive growth across manufacturing industries. Not to mention the growth we’ve all been seeing in consumer confidence – a direct correlation to consumer spending. This is due in part to steady gains in nationwide employment rates, an increase in disposable income, and the value of the housing market continuing to improve.
This continued increase in confidence of the American public can be seen in how businesses are once again investing in equipment, training, new software, and industrial structures. Some of the change in the manufacturing industry is a direct result of President Trump’s deregulation of manufacturing industries and his drive to lower taxes.
We are also seeing other signs of positive growth in the manufacturing industry, such as growing demand for equipment in the mining and construction industries. In September, the Institute for Supply Management hit its highest mark gauging manufacturing activity since 2004. There was also a boost in profits and cash flow for large companies such as Boeing Co.
According to Bloomberg Markets, U.S. growth is above what was forecasted and came in recently at three percent, which was a solid gain, especially with two parts of the country that experienced devastating hurricanes and now, rebuilding initiatives from the destruction.
All of the work and growth we’ve been seeing across the sectors creates a robust outlook for 2018 and the manufacturing industry as a whole.
As an industrial contractor for all types of industrial projects, we’re looking forward to the New Year with confidence. We do everything from process piping, concrete/foundations, structural steel fabrication, and installation of turnkey projects, and mechanical equipment placement/installation. We serve a wide range of industries and follow a commitment to quality service, safety on the job, and customer satisfaction.
To stay on top of the manufacturing industry and its future outlook, we invite you to read our blog, follow us on Twitter, and connect with us on LinkedIn. It’s important to share what’s going on throughout the industry and how it impacts our customers. To learn more about how Base Construction can help you with your latest project, please contact us to discuss your needs. We look forward to connecting with you soon!