the Federal Open Market Committee said in a statement released on Sept. 13. However, the US does not hold all the cards in trying to spur the recovery, especially for manufacturers whose busi- nesses are codependent on a worldwide economic infrastruc- ture. The growth in the US manufacturing sector, for example, has steadily been supported by growing levels of exports, data from the World Trade Organization shows. And a host of other manufacturing measures show weakness worldwide, especially in Europe and China. That has caused some large companies, such as FedEx, Worthington Steel and Caterpillar, to temper their outlooks and profit forecasts. In fact, the WTO has scaled back its forecasts for the next
year, citing ongoing economic problems in Europe and a slowdown in China.
The EU “represents nearly 60% of developed economies’ imports” but it has been beset with the sovereign debt crisis and double-digit levels of unemployment in several of its key coun- tries. In fact, an estimated 18.2 million people are now jobless
Why Carr Lane Roemheld Swing Clamps?
Exclusive safety clutch design available to prevent damage to part, fixture, or operator
Reinforced swivel mechanism
with 2 or 3 helix paths depending on size for longer life
Position monitoring available, either inductive or pneumatic via
movable sensing bolt
Designed for 1,000,000 cycles, tested over 2,000,000 cycles at full load
Rod diameter 30% larger to eliminate part deflection
Viton wiper is standard (metal wiper optional)
Over 1000 different
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in the Eurozone, the highest level since records have been kept. Spain had the highest unemployment rate in August, with 25% of all adults now unemployed and 53% of those under age 25. In other words, Europeans aren’t in the buying mood right now. China, meanwhile, has seen its growth decline over the last two-and-a-half years, the WTO notes. “China confronts mounting piles of unsold goods,” a headline in the New York Times declared in August. Export growth dropped to 2.9% and import growth fell to 2.8% in the first quarter of 2012 before rebounding slightly in the second quarter. It’s also noteworthy that the growth in imports was higher in China than the growth in exports during the second quarter. Furthermore, the WTO notes: “Available monthly data suggest that the third quarter results may be weaker still.”
“In an increasingly interdependent world, economic shocks in one region can quickly spread to others. Recently announced measures to reinforce the euro and boost growth in the United States are therefore extremely welcome,” WTO Director-General Pascal Lamy said in a statement on Sept. 21. “But more needs to be done. We need a renewed commitment to revitalize the multilateral trading system which can restore economic cer- tainty at a time when it is badly needed. The last thing the world economy needs right now is the threat of rising protectionism.”
Acquisitions
Bunting Magnetics Europe Ltd. (Berkhamsted, England), a manufacturing and sales operation for Bunting Magnetics Company, has announced the acquisition of E-Magnets UK Ltd. (Sheffield, England). E-Magnets UK Ltd. specializes in direct and wholesale supply of magnetic products throughout the UK and the world through its Web site e-magnetsuk.com. The acquisition by Bunting Magnetics Europe bolsters their market leadership and puts them one step closer to their strategic growth plan.
Anniversaries
Heller Machine Tools (Troy, MI) marked its 30th year in the US with an open house last month at its Troy, MI, plant, where it promoted the launch of its MC Series of horizontal machining centers (HMCs) and a new technology for making lightweight auto engines more robust. More at http://tinyurl. com/hellermfg
GF AgieCharmilles (Lincolnshire, IL) is celebrating its 60th anniversary with the launch of several new machines.