US grows beyond market expectationsClick image to enlarge

Amidst the negative economic news from China, the US economy grew close to 4 per cent in the second quarter, higher than market expectations, signaling a positive sign for North American economic growth.

 The latest economic data from the US for the country's second quarter GDP saw a 3.7 per cent annualized increase from teh 2.3 per cent gain reported in advance estimates. Market expectations had been for a smaller upward revision of 3.2 per cent in the second quarter.

According to Josh Nye, an economist with RBC Economics, "the upwardly revised second-quarter gain indicated an even stronger rebound in activity following a disappointing 0.6 per cent annualized increase in the first quarter."

He says that the return to growth above expectations "supports the assumption that the slowdown earlier this year was largely due to transitory factors, including harsh winter weather and a labour dispute at west coast ports rather than underlying moderation in activity. The US economy appears to have significant momentum, as a solid labour market, strong consumer confidence, and low interest rates continue to fuel growth in consumer spending and housing activity. Business investment, which appeared soft in the first half of 2015 based on earlier estimates, was revised higher in the second quarter and looks set to make a solid contribution to growth in the third quarter following July’s strong durable goods report. We expect broad-based strength in domestic demand to keep the US economy growing at an above-trend pace during the second half of 2015. While this economic backdrop would warrant the Fed beginning to withdraw monetary policy stimulus in September, recent turmoil in financial markets could keep the central bank on the sidelines."

DMG MORI Canada showcases machining, robotic advances

An espresso served by a collaborative robot, a robotic machining cell, new machining automation handling solutions and innovations in turning were part of the offerings at DMG MORI Canada’s Technology Days.

ARM Institute to develop VR robotic credential assessment

The ARM (Advanced Robotics for Manufacturing) Institute in the U.S. is looking to develop a virtual reality (VR) prototype for assessing and credentialing advanced manufacturing workers.

This tiny drone with a tiny brain is smart enough to fly itself

Engineers in Europe have built the world’s smallest autonomous rotor drone equipped with a neural network running on just 1/100th of a watt.

CWB launches welding program for women

The CWB Welding Foundation has launched a welding program for women with support from the Government of Canada's Skilled Trades Awareness and Readiness Program.

Ontario boosts investments in automotive modernization

There is more encouraging news for Ontario job shops looking to improve their abilities in serving the province’s automotive sector.

$40 B US industrial robotics market by 2020

The global industrial robotics market is expected to exceed USD 40 billion by 2020, according to a new study by Grand View Research, Inc.

Thomas Skinner celebrates 30th anniversary

Thomas Skinner's Edmonton location hosted an open house on October 4 to celebrate its 30th anniversary and showcase its new showroom and training facility. 

Abicor Binzel forms NA agreement with Canadian robotics firm

Abicor Binzel and Canadian robotics company Novarc Technologies, based in Vancouver, BC, have formed a North American sales agreement.

Cincinnati expands in Canada

Cincinnati Inc. has launched factory direct sales in Canada, appointing Alejandro Chavez as regional sales engineer for all Canadian provinces except BC, which is covered by a direct sales representative in Seattle, WA.

Delcam adds application engineers to team

Delcam has added three application engineers to its customer support team in North America.

Record-high inventory levels continue for manufacturing

Canadian manufacturing inventories are at record levels.

Capacity utilization dips for Canadian manufacturers in January

Lower production in January led to a drop in capacity utilization for Canadian manufacturers.

Lincoln acquires Easom Automation

Lincoln Electric Holdings Inc., Cleveland, OH, has acquired Easom Automation systems Inc., Detroit, MI, a privately held integrator and manufacturer of automation and positioning equipment.

Machine accessories distributor takes on Italian product line

P.O.M. Solutions, a new distribution company of machine tool accessories based in Burlington, ON, has taken on a new Italian tooling line, FPT Fast Mill modular clamping systems.

CWB Welding Foundation: Impact Report

Five years after it was founded, the CWB Welding Foundation has released “The First Five Years,” a report that charts the impact the foundation has had on the industry.

Stay In Touch

twitter facebook linkedIn