Is Manufacturing Output Data a Reliable Indicator of Economic Activity
In short – ‘No’. In days of yore manufacturing data meant jobs being done, employed people being paid, sales being made. But with robotics and off-shoring in many parts of Australian manufacturing, it’s no longer the value indicator it once was.
In the US it is an even less reliable indicator because in the last 10 years, even as manufacturing in the US rebounded, the number of jobs did not. In fact, job numbers have declined further as automation has increased substantially. So a down turn in manufacturing data means a poorer result for few people.
This article in The New Daily looks at the reasons why the stock market dropped off the back of, among one thing, flat manufacturing output in the US. But really, should we care – most US manufacturing is headed towards less employees. In short, it’s no longer a value indicator that it once was as a down turn really means less robots at work. In Australia our manufacturing sector continues to bounce along, employing plenty and slowly adding select robotics and automation to fill skill gaps shortages rather than displacing workers (the US approach). And there’s plenty of manufacturers in Australia across a broad array of sectors doing just nicely thankyou. So interpretation of data needs more than a cursory glance
Or so it may seem. This quarter has seen me interstate facilitating some strategic planning workshops; overseas working with an established Government client, working with CGD, SELLEN, and Hilton Manufacturing among others here in Oz, a couple of weeks holiday down in Tasmania, and also the occasional radio interview looking at the ‘Future of…’. And…
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Read More >Tomorrow morning (Friday the 12th) I’ll be joining Elizabeth Kulas on Disrupt Radio discussing the Future Of Workplaces. There’ll be a particular focus on why most organisations choose to struggle because they rely on outdated models of employee management. A 7.15am kick-off where, in about 7 minutes or so, I’ll try to distill 20 years…
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Read More >We’re delighted to announce that Neuro-Psychologist Dr. Kim Hazendonk of Positive Brain has accepted our offer to join our elite speaker’s group. We’re looking forward to bringing her to more groups across Australasia as she discusses effective workplaces, positive mind management, and managing busy lives. If you have a need for an engaging and passionate…
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Read More >An interesting public workshop in Perth in the first week of October introducing a varied group to the Organisational Evolution model. The Org-Ev is the model I developed for the start up of The Australian Strategic Planning Institute in conjunction with Steven Bowman. Given the diversity of the group, there were a number of surprises…
Read More >A note for those of you in Perth that there are just 4 spaces left for the Introduction to the Organisational Evolution Model workshop at Adina Apartments in Perth. The Org Ev model has been designed to enhance Strategic Planning and decision making and this introductory workshop is aimed at those looking to attend the…
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