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Daily industrial news and top headlines for plant and maintenance managers

U.S. Economy Could Withstand Brief Fall Off 'Cliff'

December 12, 2012 2:33 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

It's the scenario that's been spooking employers and investors and slowing the U.S. economy: Congress and the White House fail to strike a budget deal by New Year's Day. Their stalemate triggers sharp tax increases and spending cuts. Those measures shrink consumer spending, stifle job growth, topple stock prices and push the economy off a "fiscal cliff" and into recession.

Fewer U.S. CEOs Expect Hiring Dip Over Next 6 Months

December 12, 2012 2:29 pm | by The Associated Press | News | Comments

A survey of U.S. chief executives shows the number of large companies that plan to add jobs or hire more workers is essentially unchanged versus three months ago, although fewer expect hiring to decrease. The Business Roundtable said Wednesday that 29 percent of its member CEOs plan to increase hiring over the next six months, the same as in September when the group released its previous quarterly survey.

JinkoSolar Shares Soar On South African Contract

December 12, 2012 2:21 pm | by The Associated Press | News | Comments

Shares of JinkoSolar jumped 21 percent Wednesday after the company received a contract from WBHO-Building Energy Ltd. to supply 81 megawatts of solar modules for a power project in South Africa. JinkoSolar will deliver a total of 344,540 photovoltaic solar panels for the project, which is expected to generate about 146 gigawatt hour of power equivalent.


Porsche Breaks Its Own Sales Record

December 12, 2012 10:24 am | by The Associated Press | News | Comments

German sports car maker Porsche AG says it has already broken last year's record sales number with one month left in 2012. The company, which is now owned by Volkswagen, said Wednesday it delivered 128,978 vehicles through November, more than the total of 118,868 it sold in all of 2011 — at the time a new record.

India Industrial Output Rises 8.2 Percent In October

December 12, 2012 10:13 am | by The Associated Press | News | Comments

Industrial production in India soared 8.2 percent in October, a sharp spike for Asia's third largest economy but industry viewed the data with some caution. The data from India's Central Statistics Office on Wednesday showed that manufacturing rose 9.6 percent and electricity output increased 5.5 percent from the year before.

U.S. Wholesalers Boosted Stockpiles In October

December 11, 2012 2:07 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. wholesale businesses increased their stockpiles in October but their sales fell sharply, a mixed sign for economic growth. The Commerce Department said Tuesday that stockpiles grew 0.6 percent in October. That's slower than September's 1.1 percent increase, which was the biggest gain in nine months. Sales in October fell 1.2 percent, after rising 1.9 percent in September.

U.S. Trade Deficit Grows To $42.2B In October

December 11, 2012 10:20 am | by Martin Crutsinger, AP Economics Writer | News | Comments

The U.S. trade deficit increased in October because exports fell by a larger margin than imports, a sign that slower global growth could weigh on the U.S. economy. The Commerce Department said Tuesday that the trade deficit grew 4.8 percent in October from September to $42.2 billion. Exports dropped 3.6 percent to $180.5 billion. Sales of commercial aircraft, autos and farm products all declined.

U.S., EU Looking At World's Biggest Free Trade Pact

December 11, 2012 10:15 am | by Desmond Butler, The Associated Press | News | Comments

After years of battling each other on trade issues, U.S. and European officials are contemplating a dramatic change in direction: joining together in what could be the world's largest free trade pact in an attempt to boost their struggling economies.


ThyssenKrupp Takes $4.66B Hit In Americas Unit

December 11, 2012 10:13 am | by The Associated Press | News | Comments

German steelmaker ThyssenKrupp AG says it is taking a €3.6 billion ($4.66 billion) hit on the value of its Steel Americas unit. The Essen-based company says the writedown follows a reassessment prompted by efforts to sell the unit's plants in the United States and Brazil.

Maserati Confident In Italy Output Despite Turmoil

December 10, 2012 2:13 pm | by Colleen Barry, AP Business Writer | News | Comments

The CEO of Italian luxury carmaker Maserati is confident that parent company Fiat's €1.2 billion ($1.5 billion) investment to boost production in Italy will bring results despite political instability that once again was endangering the country's financial health.

China November Trade Weak In Challenge To Economy

December 10, 2012 2:11 pm | by Joe McDonald, AP Business Writer | News | Comments

China's trade weakened sharply in November, adding to challenges for the world's second-largest economy as a gradual recovery takes shape. Export growth plunged to 2.9 percent over a year earlier from the previous month's 11.6 percent, customs data showed Monday. Imports were flat, down from October's 2.4 percent growth.

Honeywell Issues Weak 2013 Earnings Outlook

December 10, 2012 2:08 pm | by The Associated Press | News | Comments

Honeywell International Inc. on Monday issued weaker-than-expected 2013 earnings guidance, predicting that the overall global economy will continue to grow slowly next year. The Morris Township, N.J.-based technology and manufacturing conglomerate said it expects to post a 2013 profit of $4.75 to $4.95 per share on $39 billion to $39.5 billion in revenue.

U.S. Manufacturing Tech Orders Up 5.3 Pct. Over 2011

December 10, 2012 2:04 pm | News | Comments

October U.S. manufacturing technology orders totaled $459.16 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participat­ing in the USMTO program, was down 31.3 percent from September and down 0.1 percent when compared with the total of $459.41 million reported for October 2011.


Obama, Boehner Talk 'Fiscal Cliff' Stalemate

December 10, 2012 10:15 am | by Anne Flaherty, Associated Press | News | Comments

President Barack Obama and House Speaker John Boehner met at the White House to discuss the "fiscal cliff," while rank-and-file Republicans stepped forward with what they called pragmatic ideas to break the stalemate. They agreed not to release details of their weekend conversation, but aides emphasized that the lines of communication remain open.

ISM: U.S. Manufacturing Continues Sideways

December 10, 2012 8:42 am | Articles | Comments

It appears that it’s more of the same in U.S. manufacturing. While the overall economy grew for the 42nd consecutive month, economic activity in the manufacturing sector contracted in November following two months of modest expansion, according to the latest Manufacturing ISM Report On Business

Hiring Holds Steady Despite Sandy, Fiscal Cliff

December 7, 2012 2:24 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. hiring gains held steady in November despite disruptions from Superstorm Sandy and employers' concerns about impending tax increases from the year-end "fiscal cliff." Companies added 146,000 jobs, and the unemployment rate fell to 7.7 percent — the lowest in nearly four years — from 7.9 percent in October. The rate declined mainly because more people stopped looking for work and weren't counted as unemployed.

U.S. Manufacturing Shrinks To 3-Year Low

December 3, 2012 1:02 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. manufacturing shrank in November to its weakest level since July 2009, the first month after the Great Recession ended. Worries about automatic tax increases in the New Year cut demand for factory orders and manufacturing jobs. The Institute for Supply Management said Monday that its index of manufacturing conditions fell to a reading of 49.5. That's down from 51.7 in October.

Better Economy, Storm Delays Lift U.S. Auto Sales

December 3, 2012 12:57 pm | by Dee-Ann Durbin, Tom Krisher, AP Auto Writers | News | Comments

A better economy and extra demand after Superstorm Sandy lifted U.S. auto sales last month. Americans are willing to buy a new car or truck because they are more confident in the economy than they've been in a while: Home values are rising, hiring is up, and auto financing is readily available.

Chinese Industrial Upswing Cheers Markets

December 3, 2012 10:08 am | by Carlo Piovano, Associated Press | News | Comments

News that manufacturing activity in China, the world's second largest economy, grew for the first time in 13 months helped push global stocks higher on Monday. HSBC's Purchasing Managers' Index rose to 50.5 in November from October's 49.5 on a 100-point scale on which numbers above 50 indicate activity is expanding.

Moderate Growth Likely Pending ‘Fiscal Cliff’ Compromise

November 30, 2012 2:41 pm | by The Manufacturers Alliance for Productivity and Innovation | Articles | Comments

Major issues still need to be addressed, but presuming the United States gets its fiscal house in some semblance of order, the U.S. economy could be in a transition from sluggish growth to a longer period of moderate growth, according to a new report from The Manufacturers Alliance for Productivity and Innovation.

U.S. Economy Growth Better Than Expected

November 30, 2012 2:09 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The U.S. economy grew at a 2.7 percent annual rate from July through September, much faster than first thought. The strength is expected to fade in the final months of the year because of the impact of Superstorm Sandy and uncertainty about looming tax increases and government spending cuts.

Apple To Sell New iPads, iPhone 5 In China

November 30, 2012 2:04 pm | by The Associated Press | News | Comments

Apple Inc. on Friday said its latest iPad models will go on sale in China on Dec. 7, followed by the iPhone 5 a week later. China is one of Apple's largest and fastest-growing markets. Analyst Brian White at Topeka Capital Markets said iPhone 5 is launching roughly when he expected it, but he hadn't expected the iPad mini and the fourth-generation, full-size iPad to go on sale in China this year.

U.S. Orders For Core Capital Goods Up 1.7 Percent

November 27, 2012 10:24 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. companies in October increased their orders of machinery and equipment that signal investment plans by the largest amount in five months, a hopeful sign for future economic growth. Orders for core capital goods, considered a proxy for business investment, rose 1.7 percent in October, the best showing since a 2.3 percent rise in May, the Commerce Department said.

Japan Logs 4th Straight Trade Deficit In October

November 21, 2012 10:09 am | by Malcolm Foster, Associated Press | News | Comments

Japan logged its fourth straight monthly trade deficit in October as the European debt crisis and strained business ties with China over a territorial dispute reduced exports. The Ministry of Finance said Wednesday that imports exceeded exports by 549 billion yen ($6.7 billion), the biggest deficit for October since at least 1979, when the ministry began keeping comparable records.

Deere 4Q Net Income Misses Expectations

November 21, 2012 10:02 am | by Joshua Freed, AP Business Writer | News | Comments

Deere & Co., the world's largest maker of agricultural equipment, reported a bigger fourth-quarter profit as it sold more equipment at higher prices, but results still missed analyst expectations. Deere's revenue got a boost from a 4 percent increase in prices, although some of that gain was offset by unfavorable foreign currency exchange that hurt sales by 3 percent.

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