Economy

Report predicts double-digit growth for 2019 and 2020, headwinds expected in 2021. Service, maintenance and aftermarket sales will become an increasingly important part of system integrators' business models.

CEMA estimates shipments for the first six months of 2019 increased 1.8% compared to the same period in 2018, with total shipments of $8.60 billion.

More than 86% of survey respondents believe smart factory initiatives will be the main driver of manufacturing competitiveness in the next five years, though only 51% are making/have made investments.

Conveyor Equipment Manufacturers Association reports July billed sales were up 8.0%.

More than 180,000 robots have been shipped to American companies since 2010, and more than 1.2 million new manufacturing jobs have been created during the same time.

Commerce reported July retail sales­­, at $523.5 billion, were up 0.7% over June and up 3.4% annually. NRF reported July retail sales increased 0.9% on a seasonally adjusted basis and 5.6% on an unadjusted annual basis.

June 2019 shipments decreased by 20.7% when compared to June 2018 sales.

Material handling companies can meet the expectations of the coming decade with the help of new technologies and by leveraging tax incentives and credits.

Business conditions for the equipment finance industry softened in the first half of the year, and investment growth in several key verticals is expected to slow or contract in the second half of 2019.

May 2019 booked orders decreased 12.2% when compared to May 2018 orders.

Yet only 5% are ready to execute, BDO Benchmarking Survey finds.

Shipments up 13.4% year over year, and up 23.1% from February.

Forecast of continued growth in both the manufacturing and non-manufacturing sectors is based on feedback from U.S.-based purchasing and supply chain executives.

The report’s key metric, the PMI, dipped 2.5% to 52.8 (a reading of 50 or higher indicates growth), following a 1.1% increase from February to March, a 2.4% decrease from January to February and a 2.3% increase from December to January.

Executives representing CEMA member companies expressed continued optimism at the association's annual meeting, and forecasted shipments will increase 15% for 2019.