EPIC Systems had seen an increase in inquires about pilot plant design and manufacturing. Not only has EPIC seen growth in 2013, but the month of August has shown the highest domestic manufacturing levels in over two years. The Institute for Supply Management’s index rose to 55.7, which is the strongest level since June 2011. Readings above 50 indicate growth in the manufacturing sector. Instead of manufacturers producing to only meet demand, businesses are expanding production to build inventory.
From the expansion of the Ford Motor Company to construction spending reaching its highest level in four years, domestic manufacturing is undoubtedly on the rise. EPIC has seen a record year of production which could mean that manufacturing facilities across U.S. are also increasing production. Not only have manufacturers been expanding operations, but funding for pilot plants and proof of technology systems have been on the rise.
Reports have shown that factory inventories have shrunk for a second straight month, while customer stockpiles shrank at their fastest pace since November. Strong order demand mixed with weak inventories bodes well for future increases in industrial production. Pilot plant inquires are a lagging indicator of manufacturing growth because funding for pilot plant projects typically comes from a surplus of capitol. For more information about how U.S. manufacturing is exceeding production forecasts view the full article here.