Reports related to this article:
Project(s): View 7 related projects in PECWeb
Plant(s): View 5 related plants in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Manufacturing activity in the U.S. contracted for the first time since May 2020, according to a survey by the Institute for Supply Management (ISM). The survey respondents noted conditions pointing to lower output in the future. Despite this, Industrial Info's project data shows U.S. manufacturing project activity remains robust.
The ISM's November Purchasing Managers Index (PMI), which tracks 18 industry sectors in the U.S, registered 49%--the lowest level since 43.5% in May 2020, according to Timothy Fiore, chair of the ISM's Manufacturing Business Survey Committee. New order rates remain in contraction territory, and compared to October's figures, the production index decreased 0.8 percentage points; the inventory index dropped 1.6 percentage points; and order backlogs decreased 5.3 percentage points.
"The U.S. manufacturing sector dipped into contraction, with the Manufacturing PMI at its lowest level since the coronavirus pandemic recovery began. With Business Survey Committee panelists reporting softening new order rates over the previous six months, the November composite index reading reflects companies' preparing for future lower output," Fiore said.
One survey respondent noted: "Future volumes are on a downward trend for the next 60 days," and another said: "Looking into December and the first quarter of 2023, business is softening as uncertain economic conditions lie ahead."
Despite the negative sentiment, Industrial Info's North American Construction Starts Index shows project activity in the U.S. Industrial Manufacturing Industry is on an upward trajectory. The monthly index for October 2022 indicated 2,468 construction starts, with a project value of $156 billion--up from 2,351 construction starts, with a project value of $109.3 billion, in September; October 2021 saw 2,243 construction starts worth $61.5 billion.
Industrial Info is tracking more than $288 billion worth of U.S. Industrial Manufacturing projects that are under construction. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a full list of detailed project reports.
Two sectors account for more than half of the planned spend: transportation systems, and semiconductors and computers.
Seattle-based Sound Transit is responsible for five light rail projects worth $8.55 billion, which includes a $3.7 billion extension of the East Link light rail system. The project will extend the East Link corridor 14 miles by installing new track from downtown Seattle to neighboring communities, along with 10 new stations. The project kicked off in 2016 and is expected to be completed in early 2023. The public transit agency's $3.1 billion South Corridor extension also is underway; it entails constructing 7.8 miles of light rail from a station at the Seattle-Tacoma International Airport to Federal Way with three stations along the route. Construction is expected to wrap up in late 2024. Subscribers can see project reports for the East Link and South Corridor extension projects.
Regarding semiconductor projects, the construction of a major manufacturing plant in Phoenix, Arizona, owned by Taiwan Semiconductor Manufacturing Company Limited (TSMC) (Hsinchu, Taiwan), is underway. The project involves constructing a multi-building manufacturing campus totaling 3.8 million square feet, to produce 3-nanometer semiconductors; the grassroot $12 billion first phase kicked off in April 2021, with the completion scheduled for 2024, and a $12 billion second phase recently kicked off in September, with the completion scheduled for 2025. For more information, see project reports on the first and second phases. According to the White House, President Joe Biden plans to visit the facility on December 6 to promote the administration's efforts to boost domestic semiconductor manufacturing.
Industrial Info also is tracking nearly $95 billion worth of U.S. Industrial Manufacturing Industry projects that have been completed or are on track for completion this year. Click here for a full list.
Among these are 24 data center projects worth $6.6 billion from three of tech's leading players: Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington), Meta Platforms Incorporated (NASDAQ:META) (Menlo Park, California) and Alphabet Incorporated (NASDAQ:GOOGL) (Mountain View, California), the parent company of Google. Click here for a full list of projects. Data centers are popping up across the country, with construction getting a boost from the pandemic as the world turned online for working, learning, socializing and shopping.
Meta's $1 billion expansion of its Papillion (Sarpy) Data Center in Springfield, Nebraska, wrapped up construction in March. Meanwhile, two grassroot data centers in New Albany, Ohio, also reached completion this year: Alphabet's $600 million data center and Amazon's $400 million data center (Building 4).
Subscribers to the GMI database can 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 November Purchasing Managers Index (PMI), which tracks 18 industry sectors in the U.S, registered 49%--the lowest level since 43.5% in May 2020, according to Timothy Fiore, chair of the ISM's Manufacturing Business Survey Committee. New order rates remain in contraction territory, and compared to October's figures, the production index decreased 0.8 percentage points; the inventory index dropped 1.6 percentage points; and order backlogs decreased 5.3 percentage points.
"The U.S. manufacturing sector dipped into contraction, with the Manufacturing PMI at its lowest level since the coronavirus pandemic recovery began. With Business Survey Committee panelists reporting softening new order rates over the previous six months, the November composite index reading reflects companies' preparing for future lower output," Fiore said.
One survey respondent noted: "Future volumes are on a downward trend for the next 60 days," and another said: "Looking into December and the first quarter of 2023, business is softening as uncertain economic conditions lie ahead."
Despite the negative sentiment, Industrial Info's North American Construction Starts Index shows project activity in the U.S. Industrial Manufacturing Industry is on an upward trajectory. The monthly index for October 2022 indicated 2,468 construction starts, with a project value of $156 billion--up from 2,351 construction starts, with a project value of $109.3 billion, in September; October 2021 saw 2,243 construction starts worth $61.5 billion.
Industrial Info is tracking more than $288 billion worth of U.S. Industrial Manufacturing projects that are under construction. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a full list of detailed project reports.
Two sectors account for more than half of the planned spend: transportation systems, and semiconductors and computers.
Seattle-based Sound Transit is responsible for five light rail projects worth $8.55 billion, which includes a $3.7 billion extension of the East Link light rail system. The project will extend the East Link corridor 14 miles by installing new track from downtown Seattle to neighboring communities, along with 10 new stations. The project kicked off in 2016 and is expected to be completed in early 2023. The public transit agency's $3.1 billion South Corridor extension also is underway; it entails constructing 7.8 miles of light rail from a station at the Seattle-Tacoma International Airport to Federal Way with three stations along the route. Construction is expected to wrap up in late 2024. Subscribers can see project reports for the East Link and South Corridor extension projects.
Regarding semiconductor projects, the construction of a major manufacturing plant in Phoenix, Arizona, owned by Taiwan Semiconductor Manufacturing Company Limited (TSMC) (Hsinchu, Taiwan), is underway. The project involves constructing a multi-building manufacturing campus totaling 3.8 million square feet, to produce 3-nanometer semiconductors; the grassroot $12 billion first phase kicked off in April 2021, with the completion scheduled for 2024, and a $12 billion second phase recently kicked off in September, with the completion scheduled for 2025. For more information, see project reports on the first and second phases. According to the White House, President Joe Biden plans to visit the facility on December 6 to promote the administration's efforts to boost domestic semiconductor manufacturing.
Industrial Info also is tracking nearly $95 billion worth of U.S. Industrial Manufacturing Industry projects that have been completed or are on track for completion this year. Click here for a full list.
Among these are 24 data center projects worth $6.6 billion from three of tech's leading players: Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington), Meta Platforms Incorporated (NASDAQ:META) (Menlo Park, California) and Alphabet Incorporated (NASDAQ:GOOGL) (Mountain View, California), the parent company of Google. Click here for a full list of projects. Data centers are popping up across the country, with construction getting a boost from the pandemic as the world turned online for working, learning, socializing and shopping.
Meta's $1 billion expansion of its Papillion (Sarpy) Data Center in Springfield, Nebraska, wrapped up construction in March. Meanwhile, two grassroot data centers in New Albany, Ohio, also reached completion this year: Alphabet's $600 million data center and Amazon's $400 million data center (Building 4).
Subscribers to the GMI database can 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).
