2018 Manufacturing Wrapup & 2019 Outlook

SFA services CNC machinists, moldmakers, metal fabricators, & more industries for 2019

At the start of January 2018, optimism for our industry was high. For all of 2017, manufacturing in America produced $2.2 Trillion of our gross domestic product. You probably won’t be surprised to learn that Made in America just kept growing!  

At the start of January 2018, optimism for our industry was high. For all of 2017, manufacturing in America produced $2.2 Trillion of our gross domestic product. You probably won’t be surprised to learn that Made in America just kept growing!  

According to financial news site The Balance, American manufacturing contributed $2.33 Trillion towards our gross domestic product in all of 2018. We comprised 11.6 percent of the USA’s economic output, with every dollar spent translated to $1.89 going towards business growth in related sectors (defense, medical, aerospace, etc.)

While symbiotic B2B manufacturing transactions are part of the story, American consumers helped a lot. According to a Thomas survey from October 2018 (shared by A2Z Manufacturing Magazine), 61 percent of Americans prefer products made in America. Shoppers in the USA are helping to facilitate this growth by insisting on American-made products.

Our industry also became more environmentally conscious this year. For example, a partnership of over 200 manufacturers took part in the Better Plants Initiative. Together, they helped to save $5.3 Billion in energy costs in 2018!

For 2019, the outlook for our industry varies. John Hitch, Manufacturing Trends writer for Industry Week, says we may see a slowdown due to the ever-lingering skills gap in our industry. Overall, the sentiment is optimistic, as we need to embrace IIoT and see more decision makers help their workers use new technology to “reach new levels of productivity.”

The PMI (Purchasing Managers’ Index) according to the Institute for Supply Management said January 2018 started at 59.1 percent for manufacturing. By June, we were at 60.2 percent. PMI dropped to 54.1 percent by December, so the goal for 2019 is to get back to where we were, and higher.

Our take on the 2019 outlook? We have some of the best customers in the industry who are ready to take on the challenges of the new year. Whether you’re an existing customer, or looking for manufacturing productivity needs for the first time, let’s start the conversation!

Call (877) 611-5825 or fill out a contact form to get in touch with us today!

Other good reads we recommend about our industry growth: