David Danielson, Assistant Secretary for Energy Efficiency and Renewable Energy, announced a Clean Energy Manufacturing Initiative at the ribbon cutting of a new facility, the Carbon Fiber Technology Facility at Oak Ridge National Laboratory in Oak Ridge, Tenn. Danielson said this represents the type of public-private partnership necessary for the U.S. to lead in clean energy manufacturing.
The initiative hopes to:
1. Increase U.S. competitiveness in the production of clean energy products—a key economic opportunity for America to innovate, compete and lead the way in a growing global marketplace.
2. Increase manufacturing competitiveness by increasing energy productivity in the U.S. manufacturing sector. This includes the use of advanced manufacturing technologies, implementation of energy efficiency measures, the capture of combined heat and power opportunities and taking advantage of low-cost natural gas to help American manufacturers across the board compete in the global marketplace.
More here: eere.energy.gov/energymanufacturing
Conversely, the Washington Post reported on how Goldman Sachs feels U.S. manufacturing isn’t coming back.
“We have not yet seen a material pickup in output in the parts of the manufacturing sector that should benefit most from low natural gas prices, such as aluminum, steel, plastics, basic chemicals, and fertilizer and other agricultural products,” writes Goldman’s Jan Hatzius. “At least so far, the benefits from the increase in U.S. energy production seem to have been confined to the direct effects on output and income.”
Local manufacturing news
March numbers for business activity in the Midwest dropped from 56.8 to 52.4, according to The Institute for Supply Management-Chicago. New orders and unemployment numbers also dropped from February to March.
Also in March, Texas saw a boost; according to the Federal Reserve Bank of Dallas, a small increase in shipments and new orders helped boost the state’s manufacturing activity. The state production index, a key gauge of strength in the manufacturing sector, rose to 9.9 in March from 6.2 the prior month, the monthly Texas Manufacturing Outlook Survey showed. The increase suggested a faster pace of growth during the month. More at www.statesman.com/news/business/texas-manufacturing-activity-jumps-in-march/nW3t6
In Oregon, The Oregon Measure of Economic Activity rose to 0.49 in January, compared to a revised -0.23 in December. The gain was driven in part by a large contribution from the financial services employment component. Often, such unusual gains are revised downward in subsequent reports. The three-month moving average, which smooths month-to-month volatility, improved to -0.14 where “zero” for this measure indicates the average growth rate over the 1990-present period.
The Philadelphia Federal Reserve’s business-activity index rose to 2.0% this month from -12.5% in February, marking the first positive reading in three months, according to the bank. Readings above zero indicate more firms are expanding instead of contracting.
Economic activity in the Eighth District, which encompasses Memphis and the Mid-South, expanded from mid-January through early March at a moderate pace, according to the latest Federal Reserve Beige Book, compared to activity in its previous report. Reports of planned activity in manufacturing have been positive in the Eighth District, the Fed reported.
India may become the 5th-largest manufacturing nation—from 9th position at present—if the country is able to increase the share of manufacturing in GDP to 25%, a Boston Consultancy Group report has said. The National Manufacturing Policy envisages that India’s manufacturing sector should increase its share of GDP from 15% at present to 25% by 2022, in line with global peers.
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