Insights From the Precision Staffing Team

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Manufacturing and Services are growing, Manufacturing is leading the way

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Below is economic statistics demonstrating economy is not slowing down.  We have tax reform that is being finalized, which will encourage even further growth in our economy.  We are in a full employment market.  Staffing in Cincinnati and nationally will continue to be a challenge.  So what do we do about it!  Anticipate and plan for growth.  Have your recruiting strategies in place.  Partner with a staffing agency and if you need assistance with finding talent please give call Precision Staffing at 513-372-6020.

Manufacturing and services activity went in different directions in December. The flash U.S. manufacturing PMI rose to 55 from 53.9 in November, while the flash U.S. services activity index fell to 52.4 from 54.5. Any reading above 50 indicates improving conditions.  In essence service and manufacturing idustries are growing, but manufacturing is leading the way.

The Federal Reserve said Friday manufacturing activity rose 0.2 percent. Production of machinery and primary metals contributed to gains in the factory sector, while the overall growth for industrial output largely came from restarting oil and natural gas drilling.

During the past 12 months, total industrial production has increased 3.4 percent. The growth reflects in part energy prices that have climbed to levels that are encouraging more production. Manufacturers are also showing signs of strength after having overcome a slowdown from two years ago when falling energy prices hurt orders and a strengthening dollar made U.S. exports less competitive.





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