Macroeconomic Analysis - Welding Manufacturing numbers expected to rise in 2014 Global market for welding expected to grow substantially through 2018 due to continuous growth of automobile and construction industries and use of welding products in wide range of industries including homebuilding, bridges, ships, pipelines, submarines, tanks, etc. Emerging economies like Brazil, China, India and Russia will drive demand for welding products Robot welding segment expected to experience highest rate of growth Source: Transparency Market Research Report for Welding Products Market: 2012-2018 Global Industry Analysis
Macroeconomic Analysis - Global UNIDO Statistics presents this report on world manufacturing production growth quarterly based on indices of industrial production World manufacturing gained further strength in the 4 th quarter of 2013 as a result of the continuing economic recovery of industrialized countries Manufacturing output grew in all industrialized country groups for the first time since 2010 The manufacturing output of the U.S., the largest manufacturer in the world, grew by 3.0% Source: United Nations Industrial Development Organization World Manufacturing Production Quarterly Report, Quarter IV 2013
Macroeconomic Analysis Institute for Supply Management Report on Business shows economic activity in the manufacturing sector expanded in February for the 9th consecutive month and in the overall economy for 57 th consecutive month Of the 18 manufacturing industries, 14 are reporting growth in February Manufacturing expanded in February as the PMI registered 53.2%, an increase of 1.9 points over January’s 51.3% Reading above 50% indicates that manufacturing economy is generally expanding; below 50% contracting PMI in excess of 43.2 over a period of time indicates an expansion of the overall economy MANUFACTURING AT A GLANCE FEBRUARY 2014 Index Series Index Feb Series Index Jan Percentage Point ChangeDirection Rate of Change Trend* (Months) PMI ® 53.251.3+1.9GrowingFaster9 New Orders54.551.2+3.3GrowingFaster9 Production48.254.8-6.6ContractingFrom Growing 1 Employment52.3 0.0GrowingSame8 Supplier Deliveries 58.554.3+4.2SlowingFaster9 Inventories52.544.0+8.5GrowingFrom Contracting 1 Customers' Inventories 46.544.0+2.5Too LowSlower27 Prices60.060.5-0.5IncreasingSlower7 Backlog of Orders 52.048.0+4.0GrowingFrom Contracting 1 Exports53.554.5GrowingSlower15 Imports53.5 0.0GrowingSame13 OVERALL ECONOMYGrowingFaster57 Manufacturing SectorGrowingFaster9 Source: ISM February 2014 Manufacturing ISM Report on Business: March 3, 2014
Macroeconomic Analysis Manufacturing numbers expected to rise in 2014, according to Manufacturers Alliance for Productivity and Innovation Survey’s composite index improved from 66 to 67, highest level since 2012 17 straight quarters of index reading over 50, which is dividing line for growth in the manufacturing sector Capacity utilization index, which measures % of firms operating above 85% of capacity, was only index to drop U.S. manufacturers showed a preference for capital investment at home as opposed to internationally Source: Industry Week, January 16, 2014
Spark by Frank Koller (2012) Canadian economics journalist Frank Koller explored Lincoln Electric in his book Spark, focusing primarily on the company’s unique employee incentive program. A seminal case study by Harvard Business School in 1975 remains the school’s best-selling case study. An interesting read that highlights just how job security and employee investment in a company’s mission can inspire economic growth and the success of the company.