Bureau of Labor Statistics Reports Ongoing Growth in Industrial Machinery, Fabricated Products
Toolots, Inc. is a full-service online distributor of industrial machinery, equipment and components based in Southern California. More than 120 companies from the U.S. and China sell their products through the eCommerce platform and benefit from included marketing, customer service, engineering and other support services.CERRITOS, Calif. – June 8, 2017 – Following six straight months of consistent gains in the number of manufacturing jobs in the United States, the Bureau of Labor Statistics has reported significant growth within the industrial machinery and fabricated metal products categories.
According to a newly released economic report from the leading national trade association for US-based manufacturers, the National Association of Manufacturing, industry leaders have reported sustained optimism and employment growth, as well as a significant uptick in new orders for their products and speedier acquisition of new customers. In April and May 2017, manufacturing exports from the U.S. also increased 3.4 percent compared to the same time period in 2016, according to the report.
“We have seen higher expectations for job growth of late in light of a stronger outlook for demand and production,” NAM leadership said in a statement released Monday. “Encouragingly, manufacturing exports have trended in the right direction in the early months of this year – a welcome development after weaker data in each of the past two years.”
It’s more than just the number of manufacturing jobs that are growing. Demand for U.S. manufactured goods has also increased. Thirty-two percent of manufacturing businesses surveyed in the most recent Dallas Federal Reserve Bank reported an increase in new orders, and faster growth rates for those same new orders.
NAM said this indicates significant progress and gains, likely resulting from an increase in “business confidence, better energy commodity prices, improvements in the global economy and a post-election boost in optimism.”
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About Toolots
Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots provides comprehensive services for companies around the world who produce industrial machinery and equipment, helping streamline the marketing, omni-channel sales, warehousing, fulfillment and after-sales service. On the customer end, Toolots simplifies the purchase, delivery, installation and warranty of industrial technology, machinery and components, and upholds product quality through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, China and as of May 2017, has expanded into Taiwan. For more information visit us online at www.toolots.com.
