Historically when there is a change in presidential administrations, there is a sense of hesitancy in the business and manufacturing world as people wait to see what changes will be made. This year with the election of Donald Trump to the Presidency, that hesitancy does not seem to exist. A key part of President Trump’s campaign platform, and his first months in office has been the goal of bringing manufacturing jobs back to the United States and increasing the amount of American made products and goods. This has led to a positive feeling in the manufacturing industry as companies look to take advantage of this new presidential direction.
Job Creation and the Economy:
One of the best ways to track how the economy is doing is with job creation numbers. In February, reports from ADP and Moody’s Analytics reported that jobs were added at an impressive pace, much more than was predicted. Employment in the private sector increased by 298,000 in February, and goods producers added another 106,000 jobs on top of that. Construction and the manufacturing industries also added 66,000 and 32,000 jobs respectively as well. These are enormous numbers and show that businesses believe the economy is going to continue to grow under President Trump.
Manufacturing growth has also been up significantly since President Trump has been in office. According to the Institute for Supply Management’s (ISM) monthly Manufacturing Report on Business, the February PMI came in at 57.7. The PMI is the index used by ISM to measure growth, and this February reading is the highest monthly PMI reading since August 2014. Many manufacturing sectors contributed to the growth including transportation equipment, computer & electronic products, fabricated metal products, and wood products among many others. New orders, which are a huge factor when calculating the health of the manufacturing industry was up 4.7% to 65.1, matching the previous record high that was last seen in December 2013. Overall almost every reading was up in the latest report, showing that the platform of the new administration is enhancing the economy and manufacturing industry.
At Universal Polymer & Rubber we are proud to be an American manufacturing company. Our GOLDLINE, SILVERLINE, and AMERIPRIDE tarp straps are American made and used throughout the trucking industry. This positive trend for the economy and manufacturing industry has been great to see after years of stagnation, and we look forward to seeing it continue. For more information on products and services, please contact us.