Posts Tagged ‘Manufacturing’

ADP Jobs Report for May Released

June 1st, 2017 Comments off

The numbers are in… Credit: MHProNews.

The monthly private payroll jobs report from ADP and Moody’s Analytics was released today, and it appears that President Donald Trump’s “America First” plans are taking shape.

According to CNBC, job creation surged in May thanks to a jump in construction positions and a boom in professional and business services, up 253,000, which is significantly higher than the expectations from economists surveyed by Reuters, which projected a number of 185,000.


Mark Zandi of Moody’s Analytics. Credit: CNBC.

The growth is three times the rate of the growth in the underlying labor force,” said Mark Zandi, chief economist at Moody’s Analytics.

So that means the unemployment rate, which is 4.4 percent, is quickly headed to 4 percent. This labor market is rip-roaring and getting really tight.”

Leading the way in jobs created was the services sector, with 205,000 new jobs, professional and business services contributing 88,000 jobs, which represents the best month for the sector in nearly three years, and education and health services adding 54,000 jobs.

The report noted that the construction sector added 37,000 jobs as the building season heats up, while manufacturing grew by 8,000 jobs and mining grew by 3,000 jobs.


Credit: CNBC.

As Daily Business News readers are aware, the mining sector has been one of the cornerstones of President Trump’s agenda.

Trade, transportation and utilities added 58,000 new jobs, and franchises add 18,400 new workers.

The positive report comes at a time where economists are doubtful that the Trump administration can deliver on its goal of three percent annual GDP growth, in part because the labor market is near full employment.

The report from ADP and Moody’s Analytics are regular precursors to the nonfarm payrolls count from the Bureau of Labor Statistics (BLS).

Economists estimate that payroll growth will come in around 176,000, down from the previous month’s 211,000.


The Proof is in the Pudding…


The President and First Lady visit Saudi Arabia. 300 billion in deals were completed during the visit. Credit: The White House.

As the Daily Business News covered in a feature story recently, while President Trump continues to make progress, including the lowest unemployment rate in decades, and the highest consumer, business confidence, and homebuilder confidence numbers in years, along with over $300 billion in deals with Saudi Arabia, what ELS Chairman Sam Zell colorfully called a “cacophony” of Deep State resistance has moved into high gear.

Even with that Deep State resistance, NFIB President and CEO Juanita Duggan, and industry organizations like MHARR, talked about the potentially massive impact that the Trump Administration could have.

Small business owners are clearly encouraged by the election results, but now it’s time for President-elect Trump and congressional leaders to deliver,” said Duggan.

Federal taxes, regulations, and Obamacare are the three biggest impediments to running a small business in America. Small business owners have high expectations that those problems will be addressed.”

For more on President Trump’s progress, and challenges, click here. ##

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RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.


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Economy in Focus: Jobs, Employment, Trump

April 12th, 2017 Comments off

Credit: Wikipedia.

Numbers from the Bureau of Labor Statistics (BLS) for March, show that the number of employed Americans increased 472,000 to 153,000,000, which represents another record month.

According to CNS News, the number of unemployed persons dropped by 326,000 to 7.2 million, and that brought the unemployment rate in the nation down two-tenths of a point to 4.5 percent.

The numbers from the BLS also showed the labor force participation rate remained flat at 63 percent in March, and the number of Americans not in the labor force increased slightly to 94,213,000, up 23,000 from February’s 94,190,000.

In stark contrast to the ADP Private employment report, the report from the BLS added 98,000 jobs in March, which was below the gains of 219,000 in February and 216,000 in January.

Manufacturing, an area that President Donald Trump has focused on, added 11,000 jobs in March, bringing the total number of people employed in the sector to 12,392,000.


Credit: CNS News.

This growth represents the largest amount of people employed in the sector since former President Barack Obama took office in January 2009.

Since December, the nation has added 49,000 manufacturing jobs and 19,000 government jobs.

As Daily Business News readers are aware, the January, February, and now March reports reflect anticipation of President Trump’s policies, meetings and movement, including the highest Small Business Optimism Index in 37 years from the NFIB.


Juanita Duggan, President and CEO of the NFIB. Credit, NFIB.

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan in January.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.”



A View from the Industry

Even with the progress that’s been made, President Trump still faces an uphill battle.

tim williams exev vp ohio mfg homes assoc

Tim Williams, OMHA.

As well as the markets and new job creation are already responding to his initiatives, where could we be if there wasn’t a non-stop assault on our new president?” said MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach.

Back in November, Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

MHARR CEO, M. Mark Weiss, JD, shared similar thoughts with MHProNews in a story, linked here.

For more on the progress of the Trump Administration, including proposed budget cuts to National Public Radio (NPR) and the Corporation for Public Broadcasting (CPB), click here. ##


(Image credits are as shown above.)



RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

Louisiana-Pacific Corp. Reports Q4 Earnings

February 8th, 2017 Comments off

Credit: Louisiana-Pacific Corp.

Louisiana-Pacific Corporation (NYSE: LPX) reported results for the fourth quarter and year ending December 31, 2016 today.

Total net sales for the fourth quarter totaled $550 million, 19 percent higher than the same quarter one year ago. Total net sales for the year were $2.2 billion, 18 percent higher than the previous year.


Income from continuing operations for the fourth quarter was $43 million ($0.29 per diluted share) and income of $150 million ($1.03 per diluted share) for the year.

Non-GAAP adjusted income from continuing operations was $32.8 million ($0.23 per diluted share) for the fourth quarter and income of $130 million ($0.89 per diluted share) for the year. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) from continuing operations for the fourth quarter was $85 million compared to $34 million in the fourth quarter of 2015.

For the year, EBITDA from continuing operations was $346 million compared to $67 million the previous year.



Our fourth quarter ended very strong which added to an outstanding 2016 for LP,” said CEO Curt Stevens.


LPX CEO Curtis Stevens. Credit: LPX.

Siding revenues were nearly 20 percent higher in Q4 of this year compared to Q4 of last year while adjusted EBITDA for this business was over 50 percent higher. Coupled with over a 400 percent increase in OSB earnings this quarter compared to last year, the full year ended with an 18 percent increase in revenues, an EPS from continuing operations of $1.03 and adjusted EBITDA of $346 million.

LPX shares were up today, gaining 4.63 percent.

I am confident that housing will continue to grow over the next several years as household formations increase and both job and wage growth become stronger,” said Stevens.

With our new leadership in place, our facilities running well and our sales force focused on growth, 2017 should be a good year for LP.


Credit: Bloomberg.

Louisiana-Pacific Corporation is a leading manufacturer of quality engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial and light commercial construction. From manufacturing facilities in the U.S., Canada, Chile and Brazil, LP products are sold to builders and homeowners through building materials distributors and dealers and retail home centers.

LPX is one of the various manufactured housing industry-connected stocks monitored each business day on the industry’s only daily market report, featured exclusively on the Daily Business News.  For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

LPX Q4 2016 and Year End Results.

(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Champion Homes Purchases Former Excel Homes Facility

November 7th, 2016 Comments off

Credit: Champion Homes.

Champion Homes has announced that it will purchase and reopen a recently vacated manufacturing facility formerly operated by Excel Homes in Susquehanna Township, Penn.

With the reopening, Champion Homes plans to create 246 new jobs over the next three years.

Champion was drawn to this opportunity by the strength of the Excel Homes brand and the capability of the Excel workforce to build custom homes with unparalleled quality,” said Champion CEO/President Keith Anderson. “We look forward to building on that tradition of excellence to meet the needs and expectations of builders and developers in Pennsylvania and surrounding states.



Ribbon cutting ceremony for Champion Homes Kentucky plant. Credit: Woodworking Network.

This move follows the recent announcement of a Champion Homes facility opening in Kentucky, which the Daily Business News covered here.

As regular readers already know, Champion Homes was founded in 1953, producing more than 1.7 million factory-built pre-HUD Code mobile homes, post-HUD Code manufactured homes and modular homes or buildings throughout the United States, in the United Kingdom and western Canada.

According to Area Development, state officials said the company is committed to investing $4,830,000 in the project, which will include the purchase and renovation of the site, procurement of new equipment, and acquisition of IBS’s intellectual property.



Credit: Champion Homes.

As an incentive, Champion Homes has also received a funding proposal from the Pennsylvania Department of Community and Economic Development that included a $300,000 Pennsylvania First Program grant, $492,000 in job creation tax credits to be distributed upon creation of the new jobs, and $81,000 in funding for employee training.


Governor Tom Wolf. Credit: Twitter.

Champion is not only reopening a site that closed in May 2016 and putting it back to good use, but it also hopes to hire many of workers who lost their jobs when the previous company filed Chapter 7 bankruptcy and ceased operations,” said Governor Tom Wolf. “On behalf of the commonwealth and the local communities affected by this project, I applaud Champion for its decision to expand operations in Juniata County and thank it for its outstanding contribution to the region’s economic well-being.

Daily Business News writer Matthew Silver covered the closing of multiple Excel Homes facilities here. ##

(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Construction Drops, Manufacturing Increases

April 2nd, 2012 Comments off

Finishing Touches on a Manufactured Home at legacy Homes in TexasEconomic activity in the manufacturing sector expanded in March for the 32nd consecutive month, and the overall economy grew for the 34th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. At the same time, the Commerce Department reports a drop in construction spending. On the manufacturing side, of the 18 manufacturing industries, 15 are reporting growth in March, including machinery, miscellaneous manufacturing, wood products, fabricated metal products and electrical equipment. On the construction front, privately-owned housing starts in February were at a seasonally adjusted annual rate of 698,000. This is 1.1 percent below the revised January estimate of 706,000. Single-family housing starts in February were at a rate of 457,000, 9.9 percent below the revised January figure of 507,000.

(Image Credit: Eric Miller/Legacy Homes)

Beige Book: Economy Expanding Manufacturing on the Rise

January 12th, 2012 Comments off

Federal Reserve LogoContact reports from the twelve Federal Reserve Districts suggest that national economic activity expanded at a modest to moderate pace during the reporting period of late November through the end of December. Seven Districts characterized growth as modest; of the remaining five, New York and Chicago noted a pickup in the pace of growth, Dallas and San Francisco reported moderate growth, and Richmond indicated that activity flattened or improved slightly. Compared with prior summaries, the reports on balance suggest ongoing improvement in economic conditions in recent months, with most Districts highlighting more favorable conditions than identified in reports from the late spring through early fall. Manufacturing activity expanded in most Districts, generally continuing its steady overall expansion or, in the case of Atlanta, reversing a slowdown in prior periods. For the sector as a whole, further growth or improved conditions were reported by almost all Districts, except for Cleveland, Richmond, and Dallas, which reported that activity was largely stable or mixed, and Kansas City, which noted a slight decline. The strongest reports came from subsectors such as heavy equipment manufacturing and steel, for which demand has been boosted by robust growth in the energy, agricultural, and auto manufacturing sectors. Activity in residential real estate markets largely held steady at very low levels, with the exception of further increases in the construction of multifamily residences. Lending activity edged up overall, primarily due to increased loan demand by businesses.

(Image Credit: Federal Reserve)