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Released September 02, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Economic activity for U.S. manufacturing remained unchanged in August, according to a survey by the Institute for Supply Management (ISM), indicating expansion in the overall economy for the 27th month in a row. Meanwhile, Industrial Info's project data shows project activity in the U.S. Industrial Manufacturing Industry is on an upward trajectory.
The ISM's August Purchasing Managers Index (PMI), which tracks 18 industry sectors in the U.S, registered 52.8%--the same reading from July--Timothy R. Fiore, chair of the ISM's Manufacturing Business Survey Committee, said in a press release.
"The U.S. manufacturing sector continues expanding at rates similar to the prior two months. New order rates returned to expansion levels, supplier deliveries remain at appropriate tension levels and prices softened again, reflecting movement toward supply/demand balance," Fiore noted.
However, amid the positive news, survey respondents expressed concern for a softening economy, with 18% of their comments noting concern about order book contraction, and 12% reflecting worry about "total supply-chain inventory."
Despite the effects of the COVID-19 pandemic, Russia's invasion of Ukraine, rising inflation rates and economic uncertainty, Industrial Info's North American Construction Starts Index shows project activity in the U.S. Industrial Manufacturing Industry is trending upwards. The monthly index for July 2022 indicated 2,157 construction starts, with a project value of $87.5 billion--an increase from the 1,923 starts worth $46.4 billion in July 2021.
David Pickering, Industrial Info's vice president of research for the Industrial Manufacturing Industry, told attendees at an August webinar that spending in the industry is robust and that the activity will continue. For more information, see August 4, 2022, article - IIR Webinar: Industrial Manufacturing Spending Strong Now and in Future.
Industrial Info is tracking more than $230 billion worth of active projects in the U.S. Industrial Manufacturing Industry that are under construction, led by the transportation systems sector. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a detailed list.
Click on the image at right for a breakdown of Industrial Manufacturing projects under construction by the top five sectors.
Among the projects is a $4.5 billion automated people mover addition at Los Angeles International Airport, which is part of a $5.5 billion plan to modernize road and rail access to the airport. The 2.25-mile-long train system will feature six stations total--three inside the Central Terminal Area (CTA) and three outside. In addition, the airport is modernizing existing terminals 2 and 3 (T2 and T3) by upgrading the T2 concourse and rebuilding T3 (830,000 square feet of new building space). Both projects are expected to be completed in 2023. Subscribers can see detailed reports on the people mover and modernization projects.
In the data center sector, Meta Platforms Incorporated (NASDAQ:META) (Menlo Park, California) is constructing a $350 million grassroot data center in Gallatin, Tennessee, northeast of Nashville. The project involves two buildings totaling approximately 982,500 square feet to enhance global data services and infrastructure. Completion is expected in February 2023. Subscribers can click here for the detailed project report.
In an effort to support U.S. production of automotive lithium-ion batteries, Korea-based SK Innovation Company Limited (Seoul) is at work on a Phase II development of its lithium-ion battery manufacturing facility in Commerce, Georgia, about 70 miles northeast of Atlanta. The 1.5 million-square-foot Building 2 will have a production capacity of 11.7 gigawatt-hours per year. The plant is expected to supply Ford Motor Company's (NYSE:F) (Dearborn, Michigan) electric vehicle production facility in Kentucky. The project is planned for completion in the first half of 2023. Click here for the project report.
Click here for a look at all of the projects discussed in this article, and here for the plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The ISM's August Purchasing Managers Index (PMI), which tracks 18 industry sectors in the U.S, registered 52.8%--the same reading from July--Timothy R. Fiore, chair of the ISM's Manufacturing Business Survey Committee, said in a press release.
"The U.S. manufacturing sector continues expanding at rates similar to the prior two months. New order rates returned to expansion levels, supplier deliveries remain at appropriate tension levels and prices softened again, reflecting movement toward supply/demand balance," Fiore noted.
However, amid the positive news, survey respondents expressed concern for a softening economy, with 18% of their comments noting concern about order book contraction, and 12% reflecting worry about "total supply-chain inventory."
Despite the effects of the COVID-19 pandemic, Russia's invasion of Ukraine, rising inflation rates and economic uncertainty, Industrial Info's North American Construction Starts Index shows project activity in the U.S. Industrial Manufacturing Industry is trending upwards. The monthly index for July 2022 indicated 2,157 construction starts, with a project value of $87.5 billion--an increase from the 1,923 starts worth $46.4 billion in July 2021.
David Pickering, Industrial Info's vice president of research for the Industrial Manufacturing Industry, told attendees at an August webinar that spending in the industry is robust and that the activity will continue. For more information, see August 4, 2022, article - IIR Webinar: Industrial Manufacturing Spending Strong Now and in Future.
Industrial Info is tracking more than $230 billion worth of active projects in the U.S. Industrial Manufacturing Industry that are under construction, led by the transportation systems sector. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a detailed list.
Click on the image at right for a breakdown of Industrial Manufacturing projects under construction by the top five sectors.Among the projects is a $4.5 billion automated people mover addition at Los Angeles International Airport, which is part of a $5.5 billion plan to modernize road and rail access to the airport. The 2.25-mile-long train system will feature six stations total--three inside the Central Terminal Area (CTA) and three outside. In addition, the airport is modernizing existing terminals 2 and 3 (T2 and T3) by upgrading the T2 concourse and rebuilding T3 (830,000 square feet of new building space). Both projects are expected to be completed in 2023. Subscribers can see detailed reports on the people mover and modernization projects.
In the data center sector, Meta Platforms Incorporated (NASDAQ:META) (Menlo Park, California) is constructing a $350 million grassroot data center in Gallatin, Tennessee, northeast of Nashville. The project involves two buildings totaling approximately 982,500 square feet to enhance global data services and infrastructure. Completion is expected in February 2023. Subscribers can click here for the detailed project report.
In an effort to support U.S. production of automotive lithium-ion batteries, Korea-based SK Innovation Company Limited (Seoul) is at work on a Phase II development of its lithium-ion battery manufacturing facility in Commerce, Georgia, about 70 miles northeast of Atlanta. The 1.5 million-square-foot Building 2 will have a production capacity of 11.7 gigawatt-hours per year. The plant is expected to supply Ford Motor Company's (NYSE:F) (Dearborn, Michigan) electric vehicle production facility in Kentucky. The project is planned for completion in the first half of 2023. Click here for the project report.
Click here for a look at all of the projects discussed in this article, and here for the plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
