View from the Mill - Posted in economy

In a recent issue of Automotive Design and Production, an article titled ‘Climbing Out of the Recessionary Tub’ suggests that manufacturing in the USA is likely to have a ‘bathtub’ shaped recovery curve, rather than the more commonly touted ‘V’ or ‘W’ shapes, and that the real test of business strength will come as the economy slowly ascends.

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Sir John Rose, Chief Executive of Rolls-Royce plc recently gave an interesting speech to the UK’s Royal Society for the Encouragement of Arts, Manufactures and Commerce, in which he presented the case for a more balanced economy in the UK based on high-value advanced manufacturing. Noting the overdependence on the financial services sector, he reminded listeners that there are only three ways to create wealth – “dig it up, grow it or convert something in order to add value. Anything else is just moving it about.” (This photograph is reproduced with the permission of Rolls-Royce plc, copyright © Rolls-Royce plc 2009.)

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Yes, it’s still tough in many manufacturing sectors, but there’s enough positive data flowing from credible sources to lift the gloom and allow us all to share in the belief that there are better times just around the corner.

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In a recent article by Chris Koepfer, Editor-in-Chief of the US-based ‘Production Machining’ magazine, entitled ‘Time for Some Rational Optimism’, he compares recessions to mass extinctions of species, arguing that all industries have ‘dinosaurs’ and that through events beyond their control, just like their prehistoric equivalents, some of the modern day dinosaurs will be wiped out due to their ‘heavy, slow and mediocre’ nature.

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