The slowdown has begun for manufacturing
Marketplace
Marketplace
4.6 • 8.6K Ratings
🗓️ 24 January 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
After being fueled by a surge in pandemic demand, the manufacturing sector is showing signs of cooling off. Production and hiring in the industry slowed toward the end of last year. Today, we’ll take a look at what’s driving the manufacturing decline. Plus, why copper prices are rising, how commercial lending is faring amid high interest rates and where the streaming economy is going.
Transcript
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| 0:00.0 | Busy making budget plans for the business year ahead, we've got you covered. |
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| 0:24.4 | Quote you've been given my e-vote for 0.02 for business plans by at least £1 per month. |
| 0:31.2 | In which we spend some time examining the gears of this economy. |
| 0:37.2 | From American public media, this is Marketplace. |
| 0:42.0 | In Los Angeles, I'm Kai Rizzole. |
| 0:50.9 | It is Tuesday, today, the 24th day of January. |
| 0:54.3 | It is always to have you along. |
| 0:56.1 | Everybody manufacturing is our entree to the gears of the American economy today. |
| 1:02.0 | And who, boy, has manufacturing been on a ride these past couple of years, |
| 1:06.2 | clobbered by the pandemic and then energized by the pandemic. Factory employment is the highest it's been in this country in more than a decade. |
| 1:14.9 | But there is some data out from the Federal Reserve Bank of Richmond that shows things are starting to cool down a little bit in parts of the Southeast. |
| 1:23.6 | Shipments, new orders, employment all went down in the Federal Reserve Bank of Richmond's area of responsibility, the Southeast part of this country. |
| 1:30.9 | And as Marketplace is to pre-beta shore reports to get us going, things are starting to slow down elsewhere too. |
| 1:36.8 | MADIV, that's M-A-T-I-V, is a Georgia-based global manufacturer with $3 billion in sales each year. |
| 1:43.7 | It makes a lot of different stuff. |
| 1:46.2 | The filtration that filters clean air and water, whether that's in a hospital or your car. |
| 1:52.5 | Julie Chertell is CEO. |
| 1:54.3 | We make coatings that will go on glass structures, on smart glass that could make things bulletproof. |
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