Manufacturing Stabilizes - Time to Invest in Technology

Despite the fact that the Federal Reserve Bank of New York's general economic index fell to 19.1 from 31.9 in April, it seems as though manufacturing is still continuing to do well. Rather than focusing on the slower May pace, the report reveals that manufacturing seems to be leveling out to a stable, sustainable pace of growth.

"Corporate America has underinvested in capital growth, so we're in for a period of very solid growth of equipment and software spending and that will provide a support for manufacturing," said Eric Green, chief market economist at TD Securities, Inc. in New York.

As companies continue to see an increase in demand, more and more will start capital spending once again. With leaner work forces and higher volume, manufacturing companies need to find ways to become more efficient in their processes and continue to do more with less. Investment in technology is definitely one of the best ways to gain efficiency and increase productivity. For manufacturing companies, technology such as portable coordinate measurement machines is a likely solution.

Many businesses have already benefitted from implementing portable CMMs, not only improving their processes but saving time and money as well. In some cases, measurements that were taking them weeks are now being completed in days. As signs point to this high level of production being the norm for quite some time to come, it's important to consider investing in technology to make it easy to get through it with smaller staff and less shifts.

Learn more about portable CMMs.

Read more about the recent index report.