The Southwestern Fastener Association (SFA)/Southeastern Fastener association (SEFA) joint meeting featured a presentation on the economic state of manufacturing and the projections for the future. Bill Strauss of the economic research department of the Federal Reserve Bank of Chicago, told attendees that he expects the economy to thrive through 2019. Other points he covered are unemployment, minimum wage, Federal debt, and oil.
Major points include:
- GDP expanded by 2.0% over the past year.
- Employment increased by over 2.1 million jobs over the past 12 months.
- Wages and benefits costs continue to increase at a very slow pace.
- Exports of oil has surged over the past decade.
- Manufacturers’ Purchasing Managers Indexes
Click the image below to view the presentation sides.