If you’re wondering about the health of the manufacturing sector, the Industrial Production and Capacity Utilization report provides excellent monthly data. Good news! April 2022 U.S. manufacturing growth indicators came in better than expected!
Taking a closer look at at the data on the manufacturing segments we often partner with on marketing and sales, we saw strong performance across those segments.
The Federal Reserve offers pre-grouped aggregate data on select groups of industries. Not all of our client industries are well-represented in the data segmentation, but most are in one of the groups.
First, I will explain the segments where we have the most experience and knowledge. Then, I will cover the Federal Reserve data shown in the above visual in more detail.
We monitor industrial production data and other manufacturing trends because we care about how trends may impact our digital marketing clients.
The majority of our clients fall into one of these categories. Follow the links to see case studies on an example client in that industry!
All of the segments shown demonstrated strong growth so far this year.
Industrial production data is benchmarked to the year 2017. The levels from 2017 have been set at 100 (Index: 2017 = 100). So, not only is industrial production growing, all levels above 100 exceed 2017 levels.
Manufacturing as a whole (excluding computers, etc.) and durable manufacturing both grew steadily over the four months shown in the chart.
In contrast, hard hit by chip shortages, the motor vehicles and parts manufacturing production took a nose dive in February 2022 before starting to recover in March and then exceeding average overall manufacturing production slightly in April.
The monthly Industrial Production and Capacity Utilization G.17 data releases are issued at 9:15 a.m. According to the Federal Reserve, remaining release dates for 2022: June 17, July 15, August 16, September 15, October 18, November 16, and December 15.
In addition to this data, we recommend you follow news on U.S. manufacturing industry trends from NIST. They report on trends in the economic environment, labor, types of goods produced, profit, and comparisons between the U.S. and other top manufacturing countries.
With over two decades of experience, Parin leads an expert demand-generation agency, StratMg, that helps industrial manufacturing clients achieve unambiguous and quantified organic sales growth across the US, EMEA & APAC.
Parin has built & positioned StratMg to be a value-added marketing services provider that strives to create a culture of quantified sales-driven marketing initiatives leading to sustained business growth through channel management, diversification, new customer acquisition and retention strategies and tactical execution.