SCHAUMBURG – John Augustine, Chief Investment Officer of Huntington Bank in Chicago, shared insight about the nation’s economic and market conditions at Technology & Manufacturing Association’s annual Economic Breakfast.
US manufacturing output is at historical highs, Augustine, whose opinion is often sought on cable news shows, told the audience.
Augustine showed on the following graphs how US manufacturing’s output and resulting employment demands are rising to all-time highs, with durable goods at $3185.40 billion and nondurable goods at $2664.84 billion.
Manufacturing employment is nowhere near the 1970s levels, which makes the reported growth of US manufacturing all the more stunning.
And showing all the more how important every single manufacturing job is for the nation’s businesses – labor quality is now crucial.
More to come about Augustine’s report to TMA members in upcoming days …