Manufacturing by the Numbers: April 2024
The old adage ‘you can't manage what you can't measure’ has never been truer, especially in the industrial sector. Having the right data about your plant, your business, and the industry in general is essential if you want your company to thrive.
This monthly roundup highlights the reports, studies, surveys, and insights that are impacting the manufacturing industry. Here are this month’s stats.
Economic activity in the manufacturing sector expanded in March after contracting for 16 consecutive months"The Manufacturing PMI registered 50.3% in March, up 2.5 percentage points from the 47.8% recorded in February. The overall economy continued in expansion for the 47th month after one month of contraction in April 2020." |
The Fifth Federal Reserve District's manufacturing activity remained slow in April"The composite manufacturing index increased from −11 in March to −7 in April. Of its three component indexes, shipments increased from −14 to −10, new orders increased from −17 to −9, and employment fell from 0 to −2." |
Orders of manufacturing technology totaled $343.3 million in February"This was a 2.1% increase from January 2024 but a 26.5% decline from February 2023. Year-to-date orders reached $679.6 million, a decline of 16.9% from the first two months of 2023." |
Texas' manufacturing production index rose from -4.1 to 4.8 in April"Other measures of manufacturing activity were mixed this month. The new orders index remained negative, though it pushed up seven points to -5.3. The capacity utilization and shipments indexes turned positive this month, coming in at 4.2 and 5.0, respectively." |
U.S. cutting tool consumption totaled $214.6 million in February"This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 4.9% from January’s $204.5 million and up 9% when compared with the $196.9 million reported for February 2023." |
Philadelphia manufacturing index rose 12 points to 15.5 in April, its third consecutive positive reading"Almost 38% of the firms reported increases in general activity this month, while 22% reported decreases; 40% reported no change." |
Industrial production rose 0.4% in March but declined at an annual rate of 1.8% in Q1"This increase was boosted in part by a gain of 3.1% in motor vehicles and parts; factory output excluding motor vehicles and parts moved up 0.3%." |
The Empire State manufacturing index rose 7 points in April but remained below zero at -14.3"New orders and shipments both declined significantly, and unfilled orders continued to shrink." |
Manufacturing activity in the Tenth Federal Reserve District was down in April"The month-over-month composite index was -8 in April, down from -7 in March and -4 in February. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes." |
About the Author
Alexis GajewskiAlexis Gajewski
Senior Content Strategist
Alexis Gajewski is a manufacturing writer and editor with nearly 20 years of experience covering the people, practices, and technologies that keep industrial facilities running. For more than a decade, she served as Senior Content Strategist for Plant Services, creating content for plant managers, engineers, and maintenance professionals on a variety of industrial topics.
During her tenure, Alexis worked to develop the brand’s digital strategy and helped launch and produce Great Question: A Manufacturing Podcast. She also created The Lighter Side of Manufacturing, a weekly blog that explored the inventive and sometimes humorous side of the industry.
Alexis co-founded Influential Women in Manufacturing, a recognition program that honored 49 women in its first two years, earned an industry award for Best Product Launch, and received a proclamation from Illinois Governor JB Pritzker and a commendation from U.S. Senator Tammy Duckworth.
She also led newsroom operations and development at a large media company where she set editorial standards, developed training curriculum, and helped support AI adoption for more than 150 editors across 80+ brands spanning manufacturing, industrial processing, automation, and more.
Additionally, Alexis works as a freelance writer and editor, and her areas of interest include continuous improvement, the skilled workforce, and the role of emerging technology on the plant floor.
Connect with Alexis on LinkedIn
