In a new post by Rueters manufacturing equipment buying is cooling down? Many sense this might be impending doom on the manufacturing industry but is it?
As the article points out manufacturing spending hit record highs near the end of 2017 thankfully due to a Trump Administration that preached “America First”. Those highs are starting to come down though, however, this isn’t that surprising as what comes up must eventually come down.
Many manufacturers are now also turning to a wait and see period, as Trump works to impose steel and iron tariffs on companies overseas. Both Canada and Mexico have already been given the green light that they will not be affected by this and only time will tell what actual organizations are affected as the tariff looks to affect primarily overseas manufacturing.
We also can’t forget about the tax incentive boost many companies have started pocketing recently. Though companies such as Walmart and Waste Management have used that money to give back to employees, manufacturers are looking to other ways to increase company morale and employee benefits in their facilities.
Safe to say Manufacturing is not slowing down but in more of a wait and see period as we look to see what happens in the new year.
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