Global demand and “the U.S. advantage”

More good news surfaced recently in an industrial production report released by Manufacturers Alliance/MAPI recently.

According to MAPI president and CEO, Thomas J. Duesterberg, industrial production, led by manufacturing and mining, finished the year on a strong note and is poised to sustain growth in 2011.

Expansion in manufacturing, meanwhile, was led by information processing equipment, up 14 percent for the year and 1.8 percent in December, machinery, up over 15 percent for the year and over 4 percent for the final quarter, and plastics, up over 9 percent for the year and 1.5 percent in December.

Duesterberg noted that specific areas to look for improved performance in 2011 are: aerospace, where production was down by 0.1 percent last year, as new and improved large commercial aircraft models go into full production; the auto sector, where stronger consumer spending, attractive new models and an aging car fleet suggest continued growth; and mining and oil and gas equipment, a sector “where global demand is accelerating and the United States has a competitive advantage.”

Looking ahead, he said, improving consumer spending, strong export markets, and the need for capital spending to replace worn out equipment should drive further growth

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