There have been a lot of reports lately about the manufacturing industry.
Is it in a recession? Is it fine? Is the outlook actually really great? What should you believe?
Here are two opinions about where the industry stands.
The Wall Street Journal
The Wall Street Journal claims that the state of manufacturing is no longer a "bellweather" of the American Economy.
They said, "Because factory production is volatile and sensitive to shifts in demand, it often starts to contract before the rest of the economy, the thinking goes. But that link may be weaker now that manufacturing firms make up a smaller share of the economy and the labor market, economists say."
Despite that claim, even the Wall Street Journal still says that manufacturing is incredibly important for the economy.
Industry Week - It's Stabilizing
Reports have come out saying that manufacturing had taken a downturn, but Industry Week says it's stabilizing. Manufacturing activity was not expected to improve in the month of October - but it did!
They reported, "The IHS Markit manufacturing Purchasing Managers’ Index rose to 51.5 from a final September reading of 51.1, according to a preliminary October report issued Thursday that matched the highest estimate in Bloomberg’s survey of economists."
No matter what you see in the news, we can all agree that manufacturing is a vital part of America's economy. Jobs are open, technology is improving, and we expect to see great progress with Industry 4.0.