Potential for Manufacturing and Growth for Second Half of 2024
Article from MHI Solutions Magazine
Global manufacturing and growth were under significant pressure in 2023 and early 2024. But the prospects for the second half of 2024 are more favorable. Despite elevated interest rates, U.S. and Chinese manufacturing PMIs picked up in late Q1 2024, hinting at more upside ahead this year. For MHI member companies, the forward-looking Future New Orders series of the MHI BAI has been pointing to improvements in the second half of 2024. With solid prospects of falling inflation and interest rates, cautious optimism seems reasonable for material handling equipment manufacturers.
U.S. Growth Advantage
There’s even better news for MHI members focused on the U.S. domestic market. While global economic dynamics have been spotty over the past 18 months, the U.S. economy is in a far more cherished position, with U.S. growth poised to reflect the strongest growth rate among advanced economies for the third year in a row in 2024. What is the most positive factor shaping the U.S. and material handling outlooks? The U.S. job market, which has remained relatively strong despite high interest rates and some fluctuating unemployment rate data…
