Monday , August 3 2020
Home / Tag Archives: Manufacturing

Tag Archives: Manufacturing

Service Sector Falls Off Cliff in the Eurozone, Manufacturing Not Far Behind

It will likely take “several years before the output lost due to the virus outbreak is fully regained.” By Wolf Richter for WOLF STREET. “At this stage, we can only tentatively map out the scale and gravity of the coronavirus shock to our economies. While the immediate fallout will be far more severe for the global economy than the financial crisis, the depth of the impact will depend on the evolution of the pandemic, our ability to safely restart economic activity and to rebound...

Read More »

What Manufacturing Executives Said About Their Business in this Economy

“Builders are wanting extensions on their accounts. Builders are asking for better margins. Buyers are down by 50% to 60%. Employees are scared and do not want to work. Everything we do is taking twice as long.” By Wolf Richter for WOLF STREET. The down-to-earth comments from executives of manufacturing companies in Texas show how the economy has diverged: Many segments are in a fall-of-the-cliff downturn while a few other segments have seen a sudden boost they suspect may not last....

Read More »

From Panic-Buying to Lockdowns of Eateries & Manufacturing: Truckers, Railroads Face Supply Chain Turmoil, Spikes & Plunges

“There has been a clear divide between winners and losers.” By Wolf Richter for WOLF STREET. Panic buying in late February and March was followed by a sudden shift in consumption in mid-March away from restaurants, schools, college campuses, office buildings, other work locations to supermarkets, warehouse clubs, and ecommerce. For weeks, brick-and-mortar retail supply chains failed to keep up, and bare shelves in some product categories became a common sight. But the supply chains at...

Read More »

Trucking Skids Off the Road Entirely

“Only good news is that the number was still positive despite the high number of cancellations.” By Wolf Richter for WOLF STREET. Orders for heavy trucks in March collapsed by 52% from the already dreadfully low levels a year ago to 7,400 trucks, the lowest since 2010, driven by cancellations of existing orders “due to the sharp and sudden downturn in economic conditions,” according to preliminary estimates by FTR Transportation Intelligence. And so COVID-19 spirals through the...

Read More »

How Will COVID-19 Impact US Manufacturing? First Indications Are Ugly. Exacerbated by Underlying Conditions

Economic powerhouse Texas first got hit by the Oil Bust then by the Coronavirus. Expect similar confluence of unrelated factors in other regions. By Wolf Richter for WOLF STREET: Most of the economic data is released weeks and months after the fact. But surveys of manufacturing and service companies foreshadow what will happen with the official data when it finally appears. The Texas manufacturing production index, for which data was collected between March 17 to 25 from 110...

Read More »

Tesla, the WTF Chart of the Year

You’ve got to admire Musk for snookering true believers into buying $2 billion of new shares a month ago that are now down 52%. By Wolf Richter for WOLF STREET: First a little history. Back in the good old days of February 4, 2020, when Tesla CEO Elon Musk could still be seen walking on water, and when Tesla’s shares hit $960 (and a little later $968.99), I posted a chart, calling it the “WTF chart of the year,” and adding that I’m in Awe of How Tesla is Now a Supernatural Phenomenon:...

Read More »

First US Economic Data of the COVID-19 Era Emerges. It’s Ugly

This is just the beginning. There will be more of the same and worse. By Wolf Richter for WOLF STREET: Nearly all economic data as reported on a monthly or quarterly basis have so far reflected the era in the US before the economy reacted to the coronavirus. These reactions – from panic-buying of toilet paper to airlines shutting down much of their international and now even domestic routes – were phased into the economy beginning in later February and have now risen to a crescendo....

Read More »

How Our Business Got Hit by COVID-19 Event-Cancellations Whose Effects Now Cascade Through the Industry

This is in a microcosm what businesses of kinds all across the US face. By Aaron “Ripp” Ripplinger, Strategic Director, Anton Sport & DesignAShirt.com. For WOLF STREET: Wolf here: “Ripp,” a long-time commenter on  WOLF STREET, was instrumental in creating the WOLF STREET beer mugs, and he set up and runs the WOLF STREET STORE, where you can buy these “Nothing Goes to Heck in a Straight Line” mugs. Major League Baseball announced Thursday that it will be suspending Spring Training...

Read More »

Boeing Crashes: $43 Billion in Share Buybacks Turn into Existential Threat

Of immediate concern is how much cash Boeing is burning due to the 737 MAX fiasco and now the coronavirus, and how much cash it can pile up to avoid a liquidity crisis. By Wolf Richter for WOLF STREET. Boeing’s shares [BA] came unglued, plunging 18.1% today, after having already plunged over the past four weeks. Since February 12, shares have crashed 46%, and since the peak on March 1, 2019, 57%: Today’s plunge came after a flurry of disclosures and leaks in the morning about Boeing,...

Read More »

“COVID-19 Added to this Uncertainty:” Orders & Sales of Heavy Trucks & Medium-Duty Trucks Plunge in the US

But for its still pre-coronavirus quarter, Navistar reported that its Truck revenues collapsed by 31%. By Wolf Richter for WOLF STREET. So Navistar International reported Q1 results this morning. It swung to a net loss of $36 million in the quarter ended January 31, as total revenues plunged 24.5%, to $1.84 billion. Net sales in its Truck segment plunged 31% to $1.24 billion. And new orders for trucks have essentially collapsed, which bodes ill for revenues going forward. These orders...

Read More »