Macroeconomic Weakness is Coming: Checking in on Consumers and Businesses

July 10, 2023
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MF Business Edge
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Laurie Harbour
 
 
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OSHA Seeks Comments on Potential Heat Standard
OSHA has begun the process of developing a potential standard, “Heat Injury and Illness Prevention in Outdoor and Indoor Work Settings,” and recently announced plans to convene a Small Business Advocacy Review (SBAR) Panel, later in 2023.  For the SBAR Panel, OSHA seeks representatives from small businesses, local government entities and nonprofit entities to serve as small-entity representatives (SERs).

With this potential standard, OSHA would regulate workplace exposure to hazardous heat, addressing outdoor and indoor work in any sector where OSHA has jurisdiction, including manufacturing.
 
 
Macroeconomic Weakness is Coming: Checking in on Consumers and Businesses
Leading indicators, high interest rates and the sustained inversion of the U.S. Treasury yield curve all signal that macroeconomic weakness is coming. ITR is expecting decline in the U.S. macroeconomy, as measured by U.S. Real Gross Domestic Product (GDP), for a portion of 2024.

With the downturn approaching, it is time for a closer look at how consumers and businesses are faring and a review of ITR’s expectations for both consumer and business-to-business spending.
 
 
MetalForming LIVE Online Events Address Precision Stamping, Automation, and Small-Lot Metal Forming
After a very successful inaugural event last year with more than 300 attendees, MetalForming LIVE is back again! MetalForming LIVE is a three-part webinar series which details strategies to effectively implement automation into facilities and other topics of critical importance to metal formers.

Hosted by MetalForming magazine’s editors, each of the three events will include a presentation followed by a roundtable discussion with metal formers dispensing their expertise glean from extensive experience with the chosen topics. And, attendees can participate in lively Q&A discussions.

Learn more about each of these three events, and register to attend.
 
 
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The Evolving Job Descriptions Within the Automotive Sector
“The demands of digitalization, electrification, autonomous vehicles, sustainability and changing consumer preferences have given rise to a host of new occupations within the automotive sector,” explains this Engineering News article.  While specifically focused on the South African market, the article’s summary of an executive roundtable discussion and its emphasis on the new types of skills needed to propel the industry forward rings true for North American OEMs and their suppliers as well.

Up for discussion: the need for more highly trained software engineers, data analysts and cybersecurity professionals, autonomous vehicle engineers, simulation specialists and safety analysts; and expertise in virtual and augmented reality, machine learning, and artificial intelligence.
 
 
Navigating the Emissions Reporting Landscape: A Guide for Manufacturing Leaders
“Gone are the days of ‘sustainability’ being a vague term that meant adding green to your logo. Now it’s about hard numbers…. In this white paper, we aim to support leaders in manufacturing companies of all sizes to understand and navigate the evolving landscape of carbon emissions reporting.”

So goes this new white paper from the team at Guidewheel, self-proclaimed as “on a mission to empower all the world’s factories to reach sustainable peak performance.”

Key takeaways from the paper:
  • Emissions reporting quickly is becoming a requirement of doing business for manufacturers of all sizes.
  • This new landscape creates big risks, and big opportunities. Here, the Guidewheel team recommends a framework for leaders to shape the right strategic approach for their business.
  • The sooner manufacturers adapt and build a strong strategy, the better positioned they will be positioned to succeed.
 
 
Industry-Related Terms: Form, Manufacturability, Model
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