FABTECH is a good indicator of how well manufacturing is doing in the U.S. Our Las Vegas show broke a single day attendance record last year, and, if our Chicago show booth sales are any indication, 2013 looks like another growth year for the sector.
This is reflected in several economic reports that show that the latest indicators for manufacturing are up. For example, according to Bloomberg, the Federal Reserve of Washington reported that output for factories, mines and utilities climbed by 0.7 percent – the most in three months and quotes Gus Faucher, a senior economist at PNC Financial Services Group Inc:
Manufacturing has been leading the recovery…That’s good news for the labor market, it’s good news for wages, it’s good news for consumer spending [because manufacturers pay above-average wages].
According to the February 2013 Manufacturing Institute for Supply Management Report on Business, economic activity in the manufacturing sector expanded for the third consecutive month. The Institute reported:
The PMI™ registered 54.2 percent, an increase of 1.1 percentage points from January’s reading of 53.1 percent, indicating expansion in manufacturing for the third consecutive month. This month’s reading reflects the highest PMI™ since June 2011, when the index registered 55.8 percent.
These indicators are reflected in our predictions for FABTECH 2013. Our booth sales for the November 18-21 show in Chicago are brisk and we anticipate more than 35,000 attendees and over 1,500 exhibiting companies throughout 550,000 net square feet of floor space at McCormick Place.