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Released October 05, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. manufacturers continued to exhibit high hopes in the third quarter this year, according to a new trade organization survey. For fourth-quarter 2017, Industrial Info is tracking more than $21 billion in U.S. Manufacturing Industry projects that are slated to start construction.
Click on the image at right for a graph showing planned U.S. fourth-quarter manufacturing project kickoffs by market region.
National Association of Manufacturers' (NAM) said its quarterly membership survey results indicate 89.8% of the respondents were positive during the just-ended quarter about their own company's outlook. In March, 93.3% of the respondents were positive, an all-time high in the survey's 20-year history. The results dropped slightly in the second quarter to 89.5% in the second quarter, but rebounded somewhat in the third quarter.
"After years of economic headwinds, uncertainties and policy setbacks, since the 2016 election the survey has shown positive indicators about the health of the manufacturing sector, both in the U.S. and globally. For example, manufacturing leaders have reported a significant turnaround in activity over the past 12 months, and they are very upbeat in their assessment of demand and output moving forward," NAM said. "Beyond an improved economic landscape, manufacturers are cautiously optimistic that many of the policies they have long sought, such as pro-growth tax reform, a major infrastructure package and regulatory relief, might finally become a reality, albeit at a slower rate than some might have wanted."
Among the survey results:
Despite the challenges, NAM said its data "suggest that manufacturing production should grow 3.6% between now and the first quarter of 2018... This indicates that activity should continue to pick up in the coming months, with output in the sector currently growing 1.2% year-over-year."
One of the top projects in terms of investment value that is expected to kick off construction in the fourth quarter is Apple Incorporated's (NASDAQ: AAPL) (Cupertino, California) $1 billion grassroot data center in Reno, Nevada. The massive undertaking includes construction of eight buildings with a total of 372,893 square feet on an existing data center campus. Completion would take place in late 2018. For more information, see Industrial Info's project report.
In neighboring California, Nikola Motor Company (Salt Lake City, Utah) was planning to start construction on a 50,000-unit-per-year electric truck assembly plant, with a total investment value of $1 billion. Project completion could be reached in early 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
National Association of Manufacturers' (NAM) said its quarterly membership survey results indicate 89.8% of the respondents were positive during the just-ended quarter about their own company's outlook. In March, 93.3% of the respondents were positive, an all-time high in the survey's 20-year history. The results dropped slightly in the second quarter to 89.5% in the second quarter, but rebounded somewhat in the third quarter.
"After years of economic headwinds, uncertainties and policy setbacks, since the 2016 election the survey has shown positive indicators about the health of the manufacturing sector, both in the U.S. and globally. For example, manufacturing leaders have reported a significant turnaround in activity over the past 12 months, and they are very upbeat in their assessment of demand and output moving forward," NAM said. "Beyond an improved economic landscape, manufacturers are cautiously optimistic that many of the policies they have long sought, such as pro-growth tax reform, a major infrastructure package and regulatory relief, might finally become a reality, albeit at a slower rate than some might have wanted."
Among the survey results:
- Firms forecast 2.7% growth, on average, in capital spending in the next 12 months, down from 3.2% last time.
- More than 32% expect capital expenditures (capex) to rise by at least 5%, with 51.4% predicting an increase overall.
- Medium-sized manufacturers (those with between 50 and 500 employees) were the most upbeat, anticipating 3.1% growth in capital spending on average.
Despite the challenges, NAM said its data "suggest that manufacturing production should grow 3.6% between now and the first quarter of 2018... This indicates that activity should continue to pick up in the coming months, with output in the sector currently growing 1.2% year-over-year."
One of the top projects in terms of investment value that is expected to kick off construction in the fourth quarter is Apple Incorporated's (NASDAQ: AAPL) (Cupertino, California) $1 billion grassroot data center in Reno, Nevada. The massive undertaking includes construction of eight buildings with a total of 372,893 square feet on an existing data center campus. Completion would take place in late 2018. For more information, see Industrial Info's project report.
In neighboring California, Nikola Motor Company (Salt Lake City, Utah) was planning to start construction on a 50,000-unit-per-year electric truck assembly plant, with a total investment value of $1 billion. Project completion could be reached in early 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
