U.S. Manufacturing shows lowest drop since 1946

With Covid-19 disrupting supply chains across the world, the effects on American manufacturing have been particularly detrimental. U.S. manufacturing output dropped by the most in just over 74 years, suggesting business investment contracted further than previously anticipated in the first quarter of 2020. Production at factories dropped at a 7.1% annualized rate in the first quarter, the sharpest since the first quarter of 2009, after decreasing at a 0.5% pace in the October-December period. Manufacturing, which accounts for 11% of the U.S. economy, was already struggling from the fallout of the Trump administration’s trade war with China well before the before the coronavirus hit U.S. shores. Read more HERE

As the state partner for the National Association of Manufacturing (NAM), NMBC is keenly focused on the manufacturing industry since our inception 11 years ago. To that end, we are proud to announce that we’re offering our members free and unlimited access to the NAM Manufacturers Marketplace (MM) until June 30, 2020. It’s the most sophisticated electronic database for manufacturers and consumers currently available, which can help find the suppliers and customers you need to expand your business and increase your market share.