Manufacturing growth is accelerating in the UK and the USA, according to recent reports. In contrast to 3 Signs the Economy is Still Hurting – manufacturing companies in the UK and USA are expecting to grow by 3% to 9%.
However, the method, or process used to gather information, greatly affects the results. Data has no meaning apart from its context. The Dow Jones Industrial Average might be an elaborate hoax – so don’t believe everything you read. Just because the Global Manufacturing PMI was at a six month low in April, and the Chinese economy is slower — doesn’t mean manufacturing growth has slowed in every region of the globe. Your company might be declining while others are experiencing rapid growth. (Or vice versa.)
As W. Edwards Deming said: “In God we trust, all others must bring data.”
- Manufacturing to grow by 9% in USA – “The Institute for Supply Management’s (ISM’s) Spring 2014 Semiannual Economic Forecast reported 68 per cent of manufacturing supply management executives predicted revenues will be 9.1 per cent greater in 2014 compared with 2013,” according to a May 7 report in Supply Management. Not everyone agreed on a positive outlook. “Some 9 per cent expected a 9.6 per cent decline, and 23 per cent foresaw no change.”
- Manufacturing to grow by 5% in Ireland – “After successive annual declines in manufacturing production — of 1% and 2.2% — in the past two years, 2014 should post an increase of over 5% this year,” according to a report from Alan McQuaid in the Irish Examiner.
- Manufacturing grew by 3% in the northwest region of England – according to a quarterly report from the Royal Bank of Scotland (RBS). Rupert Seggins, senior economist at RBS said: “The north west [region of England] has benefited from a recovery in manufacturing output, and found itself among the fast growing regions over the last 12 months.”
- Manufacturing grew by 30% – at Future Advanced Manufacture, a Gloucestershire, England based manufacturer of high precision components for the aerospace, oil and gas, marine and defense industries – according to a recent report in The Manufacturer.
- Manufacturing growth in UK at highest level in 15 years – “Hopes for a balanced economic recovery driven by factory production and exports have been boosted by data showing the fastest growth in manufacturing output for 15 years.”
Why are some manufacturing companies growing, while others are shrinking? One factor might be marketing strategy. Only 30 percent of manufacturing marketers say they are effective at content marketing. Perhaps it’s because so few have effective content marketing and inbound marketing strategies defined.