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New Orders, creation, and Employment turning out to be; corporation Deliveries Slowing at Slower cost; Backlog starting to be; raw materials Inventories growing; consumers' Inventories Too Low; fees reducing; Exports and Imports growing
This document reflects the these days achieved annual alterations to the seasonal factors used to calculate the indexes.
TEMPE, Ariz., Feb. 1, 2019 /PRNewswire/ -- financial pastime within the manufacturing sector expanded in January, and the general financial system grew for the 117th consecutive month, say the nation's deliver executives within the newest Manufacturing ISM® report On company®.
The report turned into issued these days with the aid of Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for supply administration® (ISM®) Manufacturing business Survey Committee: "The January PMI® registered 56.6 %, an increase of 2.3 percent facets from the December analyzing of fifty four.three percent. the new Orders Index registered 58.2 p.c, an increase of 6.9 percentage features from the December analyzing of fifty one.3 %. The production Index registered 60.5 %, 6.four-percent aspect increase in comparison to the December studying of fifty four.1 p.c. The Employment Index registered fifty five.5 percent, a reduce of 0.5 percent aspect from the December reading of fifty six p.c. The employer Deliveries Index registered fifty six.2 %, a 2.eight percent aspect reduce from the December analyzing of fifty nine p.c. The Inventories Index registered 52.eight percent, a rise of 1.6 percent aspects from the December studying of 51.2 p.c. The fees Index registered forty nine.6 %, a 5.3-percent point lessen from the December reading of fifty four.9 %, indicating reduce uncooked materials expenses for the primary time in just about three years.
"feedback from the panel mirror persisted increasing company power, supported by means of powerful demand and output. Demand expansion more desirable with the new Orders Index reading returning to the excessive 50s, the consumers' Inventories Index closing too low, and the Backlog of Orders ultimate at a close-zero-expansion level. Consumption persevered to toughen, with creation increasing strongly and employment carrying on with to extend at old-month ranges. Inputs — expressed as service provider deliveries, inventories and imports — persevered to increase, however are bad to PMI® enlargement. Inputs mirror an easing company ambiance, verified by using expenses Index contraction.
"Exports proceed to expand, however on the lowest degree due to the fact that the fourth quarter of 2016. expenditures shrunk for the primary time due to the fact the first quarter of 2016. The manufacturing sector continues to expand, reversing December's vulnerable expansion, however inputs and costs indicate primary changes in provide chain constraints," says Fiore.
Of the 18 manufacturing industries, 14 reported growth in January, in here order: fabric Mills; laptop & electronic items; Plastics & Rubber products; Miscellaneous Manufacturing; furnishings & linked products; Printing & related help activities; fundamental Metals; Chemical items; Transportation gadget; machinery; Fabricated steel products; Petroleum & Coal products; meals, Beverage & Tobacco items; and Electrical gadget, home equipment & components. The handiest business reporting contraction in January is Nonmetallic Mineral items.
Manufacturing ISM® document On business® information is seasonally adjusted for the new Orders, creation, Employment and corporation Deliveries Indexes.*variety of months moving in latest route.Indexes replicate newly released seasonal adjustment elements.
Commodities Up in PriceElectronic components (6); Freight (2); Nylon Polymer; Printed Circuit Board Assemblies; Printed Circuit Boards (2); metal* (5); steel — hot Rolled*; steel — Stainless*; metal items* (9); Sulfuric Acid; and Valves.
Commodities Down in fee Aluminum (four); Base Oils; Caustic Soda (4); Copper; Diesel; fuel (2); reminiscence; Polyethylene; Polypropylene; steel* (5); steel — Carbon; steel — hot Rolled* (5); metal — Stainless*; steel items*; and metal Scrap.
Commodities in short provide Capacitors (19); Electrical components; electronic add-ons (9); built-in Circuits; Nylon Polymer; and Resistors (15).
The number of consecutive months the commodity is listed is indicated after each item.*indicates both up and down in rate.
JANUARY 2019 MANUFACTURING INDEX SUMMARIES
PMI®Manufacturing expanded in January, because the PMI® registered 56.6 %, an increase of 2.3 percent elements from the December studying of fifty four.three p.c. "This suggests increase in manufacturing for the 29th consecutive month. The PMI® reversed a December decline in growth primarily via positive factors in New Orders and creation," says Fiore. A studying above 50 % indicates that the manufacturing economy is commonly increasing; under 50 p.c shows that it is generally contracting.
A PMI® above forty two.9 %, over a duration of time, frequently shows a diffusion of the standard economic climate. therefore, the January PMI® shows growth for the 117th consecutive month in the common economic system and the twenty ninth straight month of growth within the manufacturing sector. "The previous relationship between the PMI® and the normal economy shows that the PMI® for January (56.6 p.c) corresponds to a four-% increase in real gross home product (GDP) on an annualized groundwork," says Fiore.
THE final one year
may additionally 2018
regular for 365 days – 58.5
high – 60.8
Low – 54.3
New OrdersISM®'s New Orders Index registered fifty eight.2 % in January, which is a rise of 6.9 percent facets when in comparison to the 51.3 % pronounced for December, indicating increase in new orders for the thirty seventh consecutive month. "customer demand expansion reinforced in comparison to December and registered the strongest benefit of the five PMI® subindexes," says Fiore. a brand new Orders Index above 52.5 p.c, over time, is frequently consistent with a rise in the Census Bureau's series on manufacturing orders (in steady 2000 dollars).
Eleven of 18 industries suggested growth in new orders in January, in right here order: attire, leather-based & Allied products; Printing & linked guide actions; Miscellaneous Manufacturing; Plastics & Rubber items; basic Metals; Electrical machine, appliances & add-ons; Petroleum & Coal products; computing device & digital items; Chemical items; Fabricated metal items; and meals, Beverage & Tobacco products. The handiest industry reporting a reduce in new orders in January is equipment. Six industries said no alternate in new orders in January in comparison to December.
ProductionISM®'s creation Index registered 60.5 p.c in January, which is a rise of 6.4 percent aspects when in comparison to the fifty four.1 percent stated for December, indicating increase in construction for the 29th consecutive month. "creation enlargement endured in January, recording the strongest growth given that September 2018, when the index registered 63.1 p.c," says Fiore. An index above fifty one.7 %, over time, is generally in step with a rise within the Federal Reserve Board's Industrial construction figures.
The 14 industries reporting growth in creation all over the month of January — listed in order — are: wood products; Printing & linked help activities; furniture & connected items; Fabricated metallic items; Plastics & Rubber items; Miscellaneous Manufacturing; Paper items; Electrical gadget, appliances & components; Petroleum & Coal items; food, Beverage & Tobacco products; Chemical products; computing device & digital items; Transportation machine; and machinery. The handiest business reporting a lessen in construction in January is fabric Mills.
EmploymentISM®'s Employment Index registered fifty five.5 percent in January, a reduce of 0.5 percent aspect when compared to the December studying of 56 p.c. This indicates growth in employment in January for the twenty eighth consecutive month. "Employment endured to extend, aiding production growth, however at the lowest enlargement stage for the reason that April 2018, when the index registered fifty five.2 percent," says Fiore. An Employment Index above 50.eight %, over time, is generally in line with a rise in the Bureau of Labor data (BLS) records on manufacturing employment.
9 of 18 manufacturing industries mentioned employment growth in January in here order: cloth Mills; computer & electronic products; primary Metals; Transportation equipment; equipment; Paper products; Electrical device, appliances & add-ons; Chemical products; and Plastic & linked items. The five industries reporting a lower in employment in January are: wood items; Printing & connected support actions; furniture & connected items; Nonmetallic Mineral items; and Fabricated metallic products.
organisation DeliveriesThe start performance of suppliers to manufacturing businesses slowed in January, as the supplier Deliveries Index registered 56.2 p.c. this is 2.eight percentage facets lower than the fifty nine percent stated for December. "here is the thirty fifth straight month of slowing agency deliveries, with the index recording its lowest stage of enlargement for the reason that November 2017, when it registered fifty five.7 %. Deliveries saved tempo with better construction output and contributed to mild stock features," says Fiore. A studying below 50 percent suggests sooner deliveries, whereas a reading above 50 p.c suggests slower deliveries.
The 11 industries reporting slower agency deliveries in January — listed so as — are: cloth Mills; Printing & linked help activities; desktop & digital products; Nonmetallic Mineral items; Petroleum & Coal items; Plastics & Rubber products; machinery; Transportation equipment; Chemical items; Fabricated metal products; and Miscellaneous Manufacturing. The most effective industry reporting faster employer deliveries in January is Paper items. Six industries mentioned no change in organisation deliveries in January in comparison to December.
Inventories*The Inventories Index registered 52.eight % in January, an increase of 1.6 percentage aspects from the fifty one.2 % suggested for December. "Inventories elevated for the thirteenth consecutive month, at a sooner expense than the old month and reflect growth due to enhanced company birth performance," says Fiore. An Inventories Index more suitable than forty four.3 %, over time, is frequently in line with enlargement in the Bureau of economic analysis (BEA) figures on standard manufacturing inventories (in chained 2000 greenbacks).
the ten industries reporting greater inventories in January — listed in order — are: furnishings & connected products; material Mills; computer & digital products; Miscellaneous Manufacturing; Transportation device; simple Metals; Chemical products; Plastics & Rubber products; machinery; and meals, Beverage & Tobacco items. The six industries reporting a lessen in inventories in January — listed in order — are: attire, leather & Allied items; Electrical gadget, appliances & add-ons; Paper items; Petroleum & Coal items; Nonmetallic Mineral items; and Fabricated metal products.
clients' Inventories*ISM®'s purchasers' Inventories Index registered forty two.eight percent in January, which is 1.1 percent aspects better than the forty one.7 p.c suggested for December, indicating that customers' stock ranges have been regarded too low. "shoppers' inventories are too low for the 28th consecutive month and mirror marginal positive aspects compared to the previous length. Low consumer inventories continue to characterize future construction-boom advantage," says Fiore.
The best trade reporting shoppers' inventories as too excessive all over the month of January is Nonmetallic Mineral items. The 12 industries reporting purchasers' inventories as too low all over January — listed so as — are: cloth Mills; Fabricated metal products; Plastics & Rubber products; Petroleum & Coal products; Electrical device, home equipment & components; equipment; Paper items; Chemical items; fundamental Metals; Miscellaneous Manufacturing; food, Beverage & Tobacco items; and Transportation gadget.
expenses*The ISM® expenditures Index registered 49.6 % in January, a lower of 5.three percent points from the December reading of 54.9 %, indicating a decrease in raw substances expenditures for the first time in 34 months. The prices Index has dropped 22 percent facets over the past three months. "expenditures shriveled for the first time seeing that February 2016, when the index registered 38.three aspects. The enterprise Survey Committee referred to a mix of increases and reduces. This reflects rate turbulence, specially within the steel markets. besides the fact that children, metal expenses have often back to greater typical, pre-tariff levels, together with for products manufactured basically from steel, like mechanical components and fabricated metal products. fee raises continue for digital add-ons, together with built-in circuits and printed circuit board assemblies, and freight. Shortages continue for electrical and most digital accessories," says Fiore. A expenses Index above 52.5 %, over time, is often according to an increase within the Bureau of Labor data (BLS) Producer price Index for Intermediate materials.
Seven of the 18 industries mentioned paying improved fees for uncooked substances in January, in the following order: material Mills; Printing & connected assist activities; Paper items; Transportation machine; Miscellaneous Manufacturing; laptop & digital items; and meals, Beverage & Tobacco products. The seven industries reporting a lessen in expenditures for uncooked materials in January — listed in order — are: Fabricated metallic products; furniture & linked products; Plastics & Rubber products; machinery; Chemical products; primary Metals; and Electrical device, home equipment & accessories.
Backlog of Orders*ISM®'s Backlog of Orders Index registered 50.3 percent in January, which is 0.three percentage aspect larger than the 50 % mentioned in December, indicating order backlogs grew a little bit for the month. "Backlogs increased marginally right through January, in spite of the distinctly powerful boom in new orders that changed into possible because of the robust boom in construction output," says Fiore.
The seven industries reporting growth in order backlogs in January — listed in order — are: fabric Mills; Plastics & Rubber items; Chemical products; Electrical equipment, appliances & accessories; simple Metals; meals, Beverage & Tobacco items; and machinery. The 4 industries reporting a decrease so as backlogs all through January are: Petroleum & Coal items; Nonmetallic Mineral products; Fabricated steel products; and Transportation device.
Backlog of Orders
New Export Orders*ISM®'s New Export Orders Index registered fifty one.eight percent in January, 1 percentage aspect reduce in comparison to the December studying of 52.eight %, indicating boom in new export orders for the 35th consecutive month. "Export enlargement persevered to decline, recording its first contraction on account that February 2016, when the index registered 46.4 percent. 4 of the six big trade sectors contributed to the expansion, but at decrease enlargement degrees compared to the outdated month," says Fiore.
The eight industries reporting boom in new export orders in January — listed so as — are: furniture & linked products; Miscellaneous Manufacturing; Plastics & Rubber products; Chemical products; Fabricated metallic products; machinery; desktop & digital items; and meals, Beverage & Tobacco items. The three industries reporting a reduce in new export orders in January are: timber items; Paper products; and Transportation equipment. Seven industries suggested no exchange in new export orders in January.
New Export Orders
Imports*ISM®'s Imports Index registered 53.eight percent in January, an increase of 1.1 percent elements when in comparison to the fifty two.7 % reported for December, indicating that imports grew in January for the 24th consecutive month. "Imports growth more desirable, reversing a three-month expansion decline, in part as a result of endured endeavor to import just before Lunar New 12 months, as smartly as the abilities for accelerated tariffs on March 1," says Fiore.
The 11 industries reporting increase in imports all the way through the month of January — listed so as — are: wood items; furnishings & connected products; apparel, leather-based & Allied items; Electrical device, home equipment & add-ons; fabric Mills; Miscellaneous Manufacturing; Plastics & Rubber products; computer & digital items; Fabricated metal items; Chemical products; and equipment. The best business reporting a lessen in imports throughout January is Transportation equipment. Six industries reported no exchange in imports.
*The Inventories, purchasers' Inventories, costs, Backlog of Orders, New Export Orders and Imports Indexes do not meet the authorized standards for seasonal alterations.
buying PolicyAverage commitment lead time for Capital expenditures expanded by using six days in January to 148 days. normal lead time for construction materials changed into unchanged at 68 days. usual lead time for upkeep, restore and operating (MRO) substances elevated through four days to 36 days.
About This ReportDO not CONFUSE THIS country wide record with the various regional purchasing reports launched throughout the nation. The countrywide record's tips reflects the total U.S., whereas the regional studies contain primarily regional data from their local vicinities. additionally, the assistance within the regional reviews is not utilized in calculating the outcomes of the country wide record. The guidance compiled in this record is for the month of January 2019.
The facts introduced herein is bought from a survey of producing give executives based on counsel they have accrued inside their respective agencies. ISM® makes no illustration, aside from that brought up inside this free up, related to the individual company facts assortment approaches. The statistics should be compared to all other financial records sources when utilized in decision-making.
data and system of PresentationThe Manufacturing ISM®report On company® is in keeping with statistics compiled from procuring and supply executives nationwide. The composition of the Manufacturing company Survey Committee is stratified in line with the North American trade Classification gadget (NAICS) and every of right here NAICS-based trade's contribution to gross domestic product (GDP): food, Beverage & Tobacco products; fabric Mills; apparel, leather-based & Allied items; timber products; Paper items; Printing & related help actions; Petroleum & Coal products; Chemical products; Plastics & Rubber products; Nonmetallic Mineral products; basic Metals; Fabricated steel items; equipment; laptop & electronic items; Electrical gadget, appliances & components; Transportation equipment; furnishings & linked items; and Miscellaneous Manufacturing (items comparable to scientific gadget and supplies, rings, wearing items, toys and workplace elements). The statistics are weighted according to each business's contribution to GDP. beginning in January 2018, computation of the indexes is achieved employing unrounded numbers.
Survey responses replicate the trade, if any, in the current month in comparison to the previous month. For each and every of the warning signs measured (New Orders, Backlog of Orders, New Export Orders, Imports, construction, organisation Deliveries, Inventories, purchasers' Inventories, Employment and prices), this report shows the percent reporting each response, the web difference between the number of responses in the wonderful financial direction (higher, superior and slower for company Deliveries) and the bad financial route (decrease, worse and faster for company Deliveries), and the diffusion index. Responses are raw facts and are under no circumstances changed. The diffusion index includes the percent of superb responses plus one-half of those responding the identical (considered high-quality).
The ensuing single index number for these assembly the criteria for seasonal adjustments (PMI®, New Orders, construction, Employment and agency Deliveries) is then seasonally adjusted to enable for the effects of repetitive intra-year variations ensuing basically from usual alterations in weather circumstances, quite a few institutional arrangements, and changes because of non-portable vacation trips. All seasonal adjustment factors are area annually to enormously minor changes when circumstances warrant them. The PMI® is a composite index in response to the diffusion indexes of five of the indexes with equal weights: New Orders (seasonally adjusted), creation (seasonally adjusted), Employment (seasonally adjusted), supplier Deliveries (seasonally adjusted), and Inventories.
Diffusion indexes have the houses of main indicators and are handy summary measures displaying the existing route of trade and the scope of alternate. A PMI® reading above 50 percent indicates that the manufacturing financial system is commonly increasing; below 50 % suggests that it's generally declining. A PMI® above 42.9 percent, over a duration of time, suggests that the average financial system, or gross home product (GDP), is often increasing; beneath 42.9 p.c, it's often declining. the distance from 50 percent or forty two.9 percent is indicative of the extent of the growth or decline. With one of the crucial indications within this report, ISM® has indicated the departure element between enlargement and decline of comparable government series, as decided by regression analysis. The Manufacturing ISM®record On business® survey is shipped out to Manufacturing company Survey Committee respondents the primary a part of each month. Respondents are requested to simplest file on tips for the current month. ISM® receives survey responses all over most of any given month, with the majority of respondents often waiting unless late within the month to publish responses with a view to provide essentially the most accurate graphic of current business undertaking. ISM® then compiles the record for liberate on the first company day of here month.
The industries reporting increase, as indicated within the Manufacturing ISM®report On enterprise® month-to-month report, are listed in the order of most growth to least growth. For the industries reporting contraction or decreases, those are listed in the order of the maximum degree of contraction/lessen to the least level of contraction/reduce.
Responses to buying policy reflect the p.c reporting the existing month's lead time, the approximate weighted variety of days ahead for which commitments are made for Capital costs; production substances; and upkeep, restoration and operating (MRO) supplies, expressed as hand-to-mouth (5 days), 30 days, 60 days, 90 days, six months (a hundred and eighty days), a 12 months or greater (360 days), and the weighted commonplace variety of days. These responses are raw data, not ever revised, and not seasonally adjusted on the grounds that there is not any colossal seasonal pattern.
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ISM shall now not have any legal responsibility, duty, or obligation for or concerning the ISM ROB content material or other tips contained herein, any error, inaccuracies, omissions or delays in presenting any ISM ROB content material, or for any movements taken in reliance thereon. In no experience shall ISM be chargeable for any particular, incidental, or consequential damages, coming up out of the use of the ISM ROB. document On business®, PMI®, and NMI® are registered logos of Institute for supply management®. Institute for provide administration® and ISM® are registered emblems of Institute for provide management, Inc.
About Institute for deliver management®Institute for supply administration® (ISM®) serves supply administration professionals in more than 90 nations. Its 50,000 individuals all over manipulate about US$1 trillion in company and government deliver chain procurement yearly. based in 1915 as the first deliver administration institute on the planet, ISM is dedicated to advancing the follow of give management to force value and competitive advantage for its participants, contributing to a affluent and sustainable world. ISM leads the occupation throughout the ISM record On business®, its incredibly regarded certification classes and the ISM Mastery model®. This document has been issued by using the affiliation on account that 1931, aside from a 4-year interruption all the way through World war II.
the entire textual content version of the Manufacturing ISM®record On business® is posted on ISM®'s site at www.ismrob.org on the first company day* of each month after 10:00 a.m. ET.
The next Manufacturing ISM®file On enterprise® that includes February 2019 statistics might be released at 10:00 a.m. ET on Friday, March 1, 2019.
*except the ny inventory alternate is closed.
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posted on 05 February 2019
Written by means of Steven Hansen
The ISM non-manufacturing (aka ISM functions) index and the Markit PMI capabilities Index endured their increase cycle however declined.
Analyst Opinion of the ISM and Markit capabilities Survey
each features surveys are in enlargement - but declined this month.
From Econoday:Consensus varietyConsensus accurateMarkit amenities54.0 to fifty four.2 fifty four.2 fifty four.2 ISM amenities56.0 to fifty eight.0 fifty seven.1 56.7 Joint-weakest upward push in new company considering the fact that October 2017
economic activity within the non-manufacturing sector grew in January for the 108th consecutive month, say the nation's deciding to buy and provide executives in the latest Non-Manufacturing ISM® file On company®.
The file turned into issued today with the aid of Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for provide management® (ISM®) Non-Manufacturing enterprise Survey Committee: "The NMI® registered fifty six.7 p.c, which is 1.three percent points lessen than the December studying of fifty eight %. This represents endured increase within the non-manufacturing sector, at a slower price. The Non-Manufacturing enterprise pastime Index diminished to fifty nine.7 p.c, 1.5 percent elements decrease than the December reading of sixty one.2 p.c, reflecting growth for the 114th consecutive month, at a slower expense in January. the brand new Orders Index registered 57.7 percent, 5 percentage elements decrease than the reading of 62.7 % in December. The Employment Index extended 1.2 percentage aspects in January to 57.eight percent from the December studying of fifty six.6 percent. The expenditures Index increased 1.4 percent elements from the December analyzing of 58 percent to fifty nine.4 %, indicating that prices increased in January for the 20th consecutive month. in response to the NMI®, 11 non-manufacturing industries reported growth. The non-manufacturing sector's growth expense cooled off in January. Respondents are concerned in regards to the influences of the govt shutdown however continue to be commonly confident about overall company conditions."
The 11 non-manufacturing industries reporting growth in January — listed in order — are: Transportation & Warehousing; health Care & Social suggestions; Mining; lodging & food features; Wholesale alternate; Finance & insurance; Utilities; real estate, apartment & Leasing; building; knowledgeable, Scientific & Technical features; and Public Administration. Seven non-manufacturing industries said contraction in January in right here order: Retail trade; tutorial functions; advice; Agriculture, Forestry, Fishing & looking; Arts, leisure & pastime; administration of agencies & support features; and different functions.ISM capabilities Index
There are two sub-indexes within the ISM capabilities which have good correlations to the economy - the company endeavor Index and the new Orders Index - each have first rate tune records in recognizing an incipient recession - both closing in territories associated with enlargement.
This index and its linked sub-indices are pretty risky.
The complete ISM manufacturing and non-manufacturing survey table is below.
Econintersect does provide critical consideration to this survey because the carrier sector debts for eighty% of the economic climate and ninety% of employment. although, this an opinion survey and is not difficult data.Caveats on the use of ISM Non-Manufacturing Index:
this is a survey, a quantification of opinion. youngsters, as pointed out above, definite aspects of this survey have decent to superb correlation to the economic system for as lengthy because it has been in existence. Surveys lead tough data by weeks to months, and might provide early perception into altering conditions.
The leading ISM non-manufacturing index (NMI) is so new that it does not have sufficient facts history to have respectable simple task about how it correlates to the financial system. once more, two sub-indices (enterprise recreation and new orders) do have first rate correlation for the constrained historical past available.
No survey is accurate in projecting employment - and the ISM Non-Manufacturing Employment Index is no exception. however there are some familiar correlation in tendencies if you stand some distance satisfactory returned from this graph, month-to-month actions have not correlated smartly with the BLS service Sector Employment data.
The ISM non-manufacturing survey doesn't assemble a composite index like its manufacturing cousin. The enterprise recreation index, which is really equivalent to the construction index within the manufacturing survey, is generally adopted as the key determine from this survey.
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Economic activity in the manufacturing sector expanded in January, and the overall economy grew for the 117th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The January PMI registered 56.6%, an increase of 2.3 percentage points from the December reading of 54.3 %
“Exports continue to expand, but at the lowest level since the fourth quarter of 2016," says Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management. Prices contracted for the first time since the first quarter of 2016. The manufacturing sector continues to expand, reversing December’s weak expansion, but inputs and prices indicate fundamental changes in supply chain constraints,” says Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management.
What Respondents to Survey are Saying
-- “Unlike in the last few years, they are experiencing a first-quarter slowdown.” (Paper Products)
-- “Steady supply and production environment.” (Computer & Electronic Products)
-- “Concerns about oil prices are fueling questions of how strong the economy will be the first half of 2019.” (Chemical Products)
-- “Overall, business continues to be good; however, margins are being squeezed.” (Transportation Equipment)
·-- “The federal government shutdown is impacting their ability to get new products launched. All wines need TTB [Alcohol and Tobacco Tax and Trade Bureau] approval. They are reforecasting accordingly.” (Food, Beverage & Tobacco Products)
· -- “We continue to enjoy the benefits of a strong general economy. They are busy and maintain a backlog of sales orders.” (Machinery)
·-- “Incoming orders have been steady, but we’re starting to see signs of slowing going into February and March.” (Furniture & Related Products)
-- “Business conditions are good, and their demand and production are tracking to their forecasted growth levels for the year.” (Miscellaneous Manufacturing)
-- “Going to be a very strong spring. Business levels will be just as good [compared to] the same time frame in 2018.” (Fabricated Metal Products)
-- “Steel tariffs continue to put upward pressure on prices of downstream materials.” (Petroleum & Coal Products)
-- “January is off to a good start versus a lower November and December. They are ahead of both plan and January 2018 performance.” (Plastics and Rubber Products)
-- “Sales nationally appear to be on target for 2019 and slightly ahead of 2018.” (Nonmetallic Mineral Products)
DUBLIN--(BUSINESS WIRE)--Feb 1, 2019--The "China New Energy Vehicle Power Electronics Industry Report, 2018-2022" report has been added to ResearchAndMarkets.com's offering.
In 2017, China's EV motor controller market size ranged at RMB12.9 billion, and passenger car motor controller market expanded in size. It is predicted that boosted by new energy passenger car and hybrid vehicle markets, EV motor controller market will be worth RMB36.1 billion in 2022, and passenger car will play a dominant role.
China-made on-board charger (OBC) is priced at RMB1,000-4,500/unit for the moment. The larger power it is, the higher price will be. OBC falls into three types by power: <2.5KW, 3-5KW (mostly 3.3KW), and >6KW, respectively for EVs with battery capacity less than 15kWh, 15-24kWh electric passenger cars and small logistics vehicles, and 24kWh-above electric commercial vehicles and logistics vehicles. Market price of 6.6KW charger stands at RMB3,500-4,500, 3.3KW at RMB1,500-2,000 and 2KW at around RMB1,000.
Large power OBC is growing a trend as individual users and ride-hailing firms require far shorter charging time. 6.6KW OBC will win popularity; 10KW-23KW large power ones will find wider application. By RMB3,500 per unit, the OBC market size will be RMB7 billion in 2020; the DC/DC market will be valued at a staggering RMB3 billion in 2020 as long as the price of DC/DC converter is kept at RMB1,500.
In the next five to ten years, SiC IGBT chip will get massively utilized in motor controllers (inverters). SiC devices can cut down switching losses significantly, improve system efficiency, reduce dead time, and enhance system output capability. The total cost of battery packs and controllers can drop by 5%, and the mileage range can rise by 10%. Tesla is the first automaker to integrate a full SiC power module in its Model 3. Thanks to its collaboration with STMicroelectronics, the Tesla inverter is composed of 24 1-in-1 power modules assembled on a pin-fin heatsink.
High integration facilitates the spatial layout of the vehicle. In the limited space of new energy vehicles (especially passenger cars), the power and electronic integration technologies are used to integrate the automotive power supply with either motor controllers or electronic control system components such as the high-voltage power distribution boxes in a bid to reduce the space occupied by the automotive power supply, lowering the manufacturing cost and lifting the power density. This has become the development direction of the automotive power supply products.
Bidirectional DC/DC transmission is anticipated to gain ground as it can be used for braking energy recovery, auxiliary battery/capacitor charging and discharging, and high/low-voltage energy conversion of 48V micro-hybrid models. Bidirectional DC/DC solutions are more efficient, less occupied and more affordable than the reverse parallel of 2 unidirectional DC/DC converters, typically finding application in Toyota Prius.
1 Overview of Automotive Power Electronics 1.1 Overview 1.2 Motor Controller (Inverter) 1.3 DC-DC Converter 1.4 On-board Charger (OBC) 1.5 IGBT Market and Development Trend 1.6 Summary
2 EV Motor Controller Market 2.1 Policy Environment 2.2 Market Size 2.3 Industry Profit 2.4 Supply Model 2.5 Competitive Landscape 2.6 Supply Relation among Enterprises in the World 2.7 Development of Major Enterprises
3 EV DC/DC and Charger Market 3.1 Market Size 3.2 Competitive Landscape 3.3 Technology Trends 3.4 Supply Relation among Enterprises in the World
4 Major Chinese DC and Charger Enterprises 4.1 Hangzhou EV-Tech 4.2 SHINRY Technologies 4.3 Hangzhou Tiecheng Information Technology 4.4 Shijiazhuang Tonhe Electronics Technologies 4.5 Luoyang Grasen Power Technology
5 Chinese EV Motor Controller (Inverter) Manufacturers 5.1 Shanghai E-drive 5.2 Shenzhen Inovance Technology 5.3 Shanghai Dajun Technologies 5.4 Tianjin Santroll Electric Automobile Technology 5.5 Zhongshan Broad-Ocean Motor 5.6 United Automotive Electronic Systems (UAES) 5.7 Hunan CRRC Times Electric Vehicle 5.8 BYD 5.9 Zhuhai Enpower Electric 5.10 Shenzhen V&T Technologies 5.11 Fujian Fugong Power Technology 5.12 Chroma ATE 5.13 Delta Electronics 5.14 Jing-Jin Electric Technologies (Beijing) 5.15 DEC Dongfeng Electric Machinery 5.16 Nidec (Beijing) Drive Technologies 5.17 Time High-Tech 5.18 JEE Automation Equipment 5.19 Shandong Deyang Electronics Technology 5.20 Beijing Siemens Automotive E-Drive System 5.21 Prestolite E-Propulsion Systems (Beijing) Limited
6 Global Motor Controller (Inverter) Manufacturers 6.1 Hitachi Automotive Systems 6.2 Mitsubishi Electric 6.3 Meidensha 6.4 Toshiba 6.5 Hyundai Mobis 6.6 Delphi 6.7 Bosch 6.8 Continental
7 IGBT Suppliers 7.1 Fuji Electric 7.2 Infineon 7.3 Denso 7.4 ROHM 7.5 IR 7.6 Semikron
For more information about this report visit https://www.researchandmarkets.com/research/5pbj5d/china—new—energy?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190201005173/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
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Related Topics:Telematics and Vehicle Electronics,Electric and Hybrid Vehicles
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/01/2019 05:17 AM/DISC: 02/01/2019 05:17 AM
Copyright Business Wire 2019.
© 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
With the expansion of data centers, cloud computing and the Internet of Things (“IoT”), ensuring trust in the supply chain has become more important than ever. From the sourcing of components used in manufacturing and platform assembly all the way through the distribution and logistics of the final product, a trusted supply chain (“TSC”) can be established based on trusted hardware and standards developed by the Trusted Computing Group (“TCG”). This article intends to describe the incentives to help prioritize supply chain trust as a major organization issue and to explain the use of a hardware (“HW”) Root of Trust (“RoT”) to establish a trusted supply chain.Incentive for Supply Chain Trust
In today’s diverse manufacturing, logistics and just-in-time (“JIT”) inventory environment, assurance of a device’s origin and subsequent history has become a critical challenge. Remote deployment and provisioning should also provide assurance in the supply chain. This assurance has the added benefit of reduced reliance on physically tracking devices through the supply chain as well as reduced cost and service time.
Companies that need further convincing should do a quick search to see how easy it is to find incidents of major hacking of the supply chain and the use of counterfeit, substituted and sometimes malicious components. One of the more recent incidents impacted as many as 300 companies, so this is not a potential problem. It is real.
Figure 1. The Trusted Supply Chain Value Proposition
Figure 1 shows vulnerable points in the supply chain and the benefits of adding trustworthy elements. There are many opportunities for malicious acts to occur in the supply chain before end users even turn on their new equipment. Such attacks should concern every company regardless of their size or market focus. Military organizations are well aware of the significance of the problem.
An internal report produced by the U.S. Joint Chiefs of Staff Directorate for Intelligence, J-2, states, “Cyber security officials are concerned that … computers and handheld devices could introduce compromised hardware into the Defense Department supply chain, posing cyber espionage risks, said officials familiar with the report.”
Another article in Supply Chain Magazine, “The Supply Chain Silent Threat – Cyber Attack,”  provides a 30-year history of cyberattacks. These efforts are not new.
Published in 2015, the U.S. Department of Defense (“DOD”) published a three-page interim rule to the Defense Federal Acquisition Regulation Supplement (“DFARS”) that gave government contractors a deadline of December 31, 2017 to implement the requirements of the National Institute of Standards and Technology’s (“NIST”) Special Publication (“SP”) 800-171 to deal with cybersecurity threats. Section 252.246-7007, “Contractor Counterfeit Electronic Part Detection and Avoidance System”  specifically addresses “design, operation, and maintenance of systems to detect and avoid counterfeit electronic parts and suspect counterfeit electronic parts.”The Trust Solution
Assurances of a device’s origin helps establish the foundation for a trusted supply chain. TCG’s initial Trusted Platform Module (“TPM”) standard defined a hardware root of trust or “HRoT.” More recently, TPM 2.0, now International Organization for Standardization (“ISO”) standard (ISO 11889) as well, created a library specification to describe all the commands/features that could be implemented and might be needed in a variety of platforms including embedded systems.
In the TPM, the Endorsement Key (“EK”) is a permanent (with some exceptions) key that is uniquely associated with a specific TPM. It provides assertions about the TPM but no assertions about the platform. A TPM EK can “certify” other TPM/platform keys created by the owner or users. In addition, a TPM also has Platform Configuration Registers (“PCRs”), Attestation ID Keys, Signature Keys and Encryption Keys for verifying access and protecting data.
Figure 2 shows how the TPM provides the HRoT. The TPM EK certificate and a platform certificate are used to establish the documentation for the platform. The TPM’s EK certificate is signed by the TPM Vendor. Then the Platform Manufacturer (“PM”) attaches the TPM to a platform where the EK is bound to the platform to provide a platform-specific key.
The platform certificate created by the platform manufacturer attributes asset information about the platform and the Root of Trust for Measurement (“RTM”) binding it to the TPM. The value of the measurements is proportional to the trust in the RTM provided by the platform manufacturer.
Finally, the supply chain obtains proof of assertions to verify platform and EK certificate signatures as well as to verify the EK certificate bound to that platform.
Figure 2. The TPM general architecture transfers keys and certificates to build trust.Implementing a Trusted Supply Chain
Building on the TPM general architecture, Figure 3 shows the steps for the documentation for the RoT, which continues through the supply chain until it gets to the final owner where an information technology (“IT”) expert uses tools available on open source to verify platform signatures, EK certificates and other trust confirming tasks.
Figure 3. Trusted Supply Chain traceability extends to the platform owner and users.
Based on the previous chain that was established in the lifecycle of the system, Figure 4 shows how the appliance certificates are generated. Generating the chain of trust starts with the TPM creating the EK for each TPM and establishing the hardware root of trust. Next, the platform manufacturer permanently mounts the TPM onto the platform and creates the platform certificate and binds it to the EK.
Then a Signing Service provides a platform certificate that cryptographically binds the platform to the EK. Finally, the System Integrator creates an appliance certificate and binds it to the platform certificate. At the end of the process, the end user benefits from the ability to trace the appliance to credible HRoT for establishing technology provider accountability as well as transparency.
Figure 4. Generating the chain of trust in a typical system touches each stage.
The chain of trust process is important and essential to provide total traceability and a HRoT based on the TPM. It enables component-level traceability for platforms and systems to mitigate the risk of counterfeit electronic parts while conforming to DFARS Supplement 246.870-2.
The trusted supply chain also provides an end-user Auto Verify tool that identifies certain system changes from the time of manufacturing to the time of first boot. The “As-Built” data report and Auto Verify tool offers customers confidence in the authenticity of their systems.
Traceability in the supply chain includes platform certificates with component level traceability supported by an “as built” report generated from the factories, a statement of conformance attesting to the authenticity of the system and finally the customer web portal that downloads the files with a link sent regarding access details to the files/certificates.
Figure 5 shows how the various trust items flow through the TSC process from initial generation, signed and then downloaded so the customer can use the tool to verify it.
Figure 5. The Trusted Supply Chain process uses the HRoT in the TPM, platform certificates and other data that are confirmed by the Auto Verify tool.
The Auto Verify tool collects data on all the components in the system, not just the TPM, providing Platform Certificate Validation as well as Direct Platform Components Validation. The components could include a laptop with some drives, memory, processors and more. The first time the customer powers up, the tool checks for any changes in that hardware comparing what the customer received to what was shipped from the original design manufacturer (“ODM”).
System-level traceability is based on a hardware root of trust for each system and starts with the HRoT provided by the TPM on the motherboard. In addition, software tools deployed during the manufacturing flow at the ODM capture system information as well as the TPM certificate (including public EK). A unique X.509 platform certificate for each system is generated and signed using Platform Manufacturer Certificate Authority. This attests that the purchased system is the specific system built by expected manufacturer. To aid in the process, the Platform Certification Tool (PCVT_TPM20) is available on GitHub. Figure 6 shows how data from original and as delivered platform “snapshots” are identified and displayed.
Figure 6. Changes identified in the Auto Verify tool are easily communicated to the end user.
With the knowledge of the problem and availability of a well-developed solution, what should the concerned reader do? The Steps to Establishing Supply Chain Trust Side Bar identifies a four-step process to move from today’s unknown position to a trusted supply chain. Got Trust?
Product tampering and unauthorized substitutions can occur anywhere in the supply chain. To prevent product tampering, a Trusted Supply Chain is based on a hardware Root of Trust established by using the Trusted Computing Group’s Trusted Platform Module standard. Through the various manufacturing and assembly phase and distribution logistics, end-user verifiable component authenticity backs up and builds on the hardware Root of Trust. When a system is ultimately in the hands of the end user, an Auto-Verify tool validates the system components using Platform Certificate Verification for TPM/Platform authentication. The tool provides traceability, accountability, assurance and security to the user and is designed to be a straightforward and easy-to-implement process that establishes trust in the supply chain and mitigates the potential for cyberattacks due to supply chain tampering.Side Bar: Steps to Establishing Supply Chain Trust
Step 1 Immediately: evaluate your company’s supply chain for its IT components
Step 2 Within the next three months: identify IT components that have supply chain risk and determine if there is an opportunity to incorporate TSC supply chain
Step 3 Within the next six months: implement a secure supply chain based upon the TPM
Step 4 For future purchases: consider platforms that incorporate Lenovo models with the Intel Transparent Supply Chain Certification Tools for TPM 2.0 Support
Intel provides these materials as-is, with no express or implied warranties.
All products, dates, and figures specified are preliminary, based on current expectations, and are subject to change without notice.
Intel, processors, chipsets, and desktop boards may contain design defects or errors known as errata, which may cause the product to deviate from published specifications. Current characterized errata are available on request.
Intel technologies' features and benefits depend on system configuration and may require enabled hardware, software or service activation. Performance varies depending on system configuration. No product or component can be absolutely secure. Check with your system manufacturer or retailer or learn more at http://intel.com.
Some results have been estimated or simulated using internal Intel analysis or architecture simulation or modeling, and provided to you for informational purposes. Any differences in your system hardware, software or configuration may affect your actual performance.
Intel and the Intel logo are trademarks of Intel Corporation in the United States and other countries.
*Other names and brands may be claimed as the property of others.
© Intel Corporation
Tom Dodson is a Supply Chain Security Architect with more than 20 years’ experience in the Boards and Systems Manufacturing and Supply Chain business area. Tom started out his career at Intel as a manufacturing quality engineer working with third party ODM manufacturers and suppliers worldwide that produce products for Intel. Five years ago Tom began working on the Trusted Supply Chain program with TCG Contributor Advisor Monty Wiseman. One of the areas that was of particular interest was the need to be able to show providence in the components used by the factories during manufacturing. With his 15 years of manufacturing and supply chain experience, Tom worked with Monty to develop an implementation of a Trusted Supply Chain at Intel. Tom has worked with TCG IWG members to incorporate Trusted Supply Chain requirements into Platform Certificate specifications. Tom has presented the Trusted Supply Chain concepts at RSA and NIST conferences, policies and procedures that have been outlined in the Trusted Supply Chain.
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IIA [3 Certification Exam(s) ]
IIBA [2 Certification Exam(s) ]
IISFA [1 Certification Exam(s) ]
Intel [2 Certification Exam(s) ]
IQN [1 Certification Exam(s) ]
IRS [1 Certification Exam(s) ]
ISA [1 Certification Exam(s) ]
ISACA [4 Certification Exam(s) ]
ISC2 [6 Certification Exam(s) ]
ISEB [24 Certification Exam(s) ]
Isilon [4 Certification Exam(s) ]
ISM [6 Certification Exam(s) ]
iSQI [7 Certification Exam(s) ]
ITEC [1 Certification Exam(s) ]
Juniper [64 Certification Exam(s) ]
LEED [1 Certification Exam(s) ]
Legato [5 Certification Exam(s) ]
Liferay [1 Certification Exam(s) ]
Logical-Operations [1 Certification Exam(s) ]
Lotus [66 Certification Exam(s) ]
LPI [24 Certification Exam(s) ]
LSI [3 Certification Exam(s) ]
Magento [3 Certification Exam(s) ]
Maintenance [2 Certification Exam(s) ]
McAfee [8 Certification Exam(s) ]
McData [3 Certification Exam(s) ]
Medical [69 Certification Exam(s) ]
Microsoft [374 Certification Exam(s) ]
Mile2 [3 Certification Exam(s) ]
Military [1 Certification Exam(s) ]
Misc [1 Certification Exam(s) ]
Motorola [7 Certification Exam(s) ]
mySQL [4 Certification Exam(s) ]
NBSTSA [1 Certification Exam(s) ]
NCEES [2 Certification Exam(s) ]
NCIDQ [1 Certification Exam(s) ]
NCLEX [2 Certification Exam(s) ]
Network-General [12 Certification Exam(s) ]
NetworkAppliance [39 Certification Exam(s) ]
NI [1 Certification Exam(s) ]
NIELIT [1 Certification Exam(s) ]
Nokia [6 Certification Exam(s) ]
Nortel [130 Certification Exam(s) ]
Novell [37 Certification Exam(s) ]
OMG [10 Certification Exam(s) ]
Oracle [279 Certification Exam(s) ]
P&C [2 Certification Exam(s) ]
Palo-Alto [4 Certification Exam(s) ]
PARCC [1 Certification Exam(s) ]
PayPal [1 Certification Exam(s) ]
Pegasystems [12 Certification Exam(s) ]
PEOPLECERT [4 Certification Exam(s) ]
PMI [15 Certification Exam(s) ]
Polycom [2 Certification Exam(s) ]
PostgreSQL-CE [1 Certification Exam(s) ]
Prince2 [6 Certification Exam(s) ]
PRMIA [1 Certification Exam(s) ]
PsychCorp [1 Certification Exam(s) ]
PTCB [2 Certification Exam(s) ]
QAI [1 Certification Exam(s) ]
QlikView [1 Certification Exam(s) ]
Quality-Assurance [7 Certification Exam(s) ]
RACC [1 Certification Exam(s) ]
Real-Estate [1 Certification Exam(s) ]
RedHat [8 Certification Exam(s) ]
RES [5 Certification Exam(s) ]
Riverbed [8 Certification Exam(s) ]
RSA [15 Certification Exam(s) ]
Sair [8 Certification Exam(s) ]
Salesforce [5 Certification Exam(s) ]
SANS [1 Certification Exam(s) ]
SAP [98 Certification Exam(s) ]
SASInstitute [15 Certification Exam(s) ]
SAT [1 Certification Exam(s) ]
SCO [10 Certification Exam(s) ]
SCP [6 Certification Exam(s) ]
SDI [3 Certification Exam(s) ]
See-Beyond [1 Certification Exam(s) ]
Siemens [1 Certification Exam(s) ]
Snia [7 Certification Exam(s) ]
SOA [15 Certification Exam(s) ]
Social-Work-Board [4 Certification Exam(s) ]
SpringSource [1 Certification Exam(s) ]
SUN [63 Certification Exam(s) ]
SUSE [1 Certification Exam(s) ]
Sybase [17 Certification Exam(s) ]
Symantec [134 Certification Exam(s) ]
Teacher-Certification [4 Certification Exam(s) ]
The-Open-Group [8 Certification Exam(s) ]
TIA [3 Certification Exam(s) ]
Tibco [18 Certification Exam(s) ]
Trainers [3 Certification Exam(s) ]
Trend [1 Certification Exam(s) ]
TruSecure [1 Certification Exam(s) ]
USMLE [1 Certification Exam(s) ]
VCE [6 Certification Exam(s) ]
Veeam [2 Certification Exam(s) ]
Veritas [33 Certification Exam(s) ]
Vmware [58 Certification Exam(s) ]
Wonderlic [2 Certification Exam(s) ]
Worldatwork [2 Certification Exam(s) ]
XML-Master [3 Certification Exam(s) ]
Zend [6 Certification Exam(s) ]
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