Tuesday | 25 November, 2014 | 10:58 am
By Modern Metals' staff
REGIONAL MANUFACTURING OUTLOOK
Planes, cars, fuel set pace for regional growth
November 2014 - Manufacturing (including metals production), energy and transportation have been growing steadily during 2014 and a bit more rapidly than traditional industries in the region such as paper and textiles.
PNC Financial Services Group Inc. forecast 2015 employment growth in metropolitan areas like Atlanta, Mobile and Raleigh would grow comfortably higher than the national rate (2.6, 1.9 and 2.2 percent, respectively).
In its own state economic reports released this fall, Wells Fargo Securities LLC concurs, citing factory expansions and corporate relocations to Southeast states. Combat ships, commercial airplanes, passenger vehicles and tractor trailers are among the growth markets for metal products just in Alabama. “The growth in Alabama’s factory sector is enviable,” Wells Fargo analysts stated.
“The automotive sector continues to expand rapidly” in Georgia, too, and the bank’s outlook for the state’s economy “remains solidly positive.”
PNC cited expansion at the Port of Mobile and a new Airbus factory as healthy developments for Alabama while Wells Fargo predicts the Port of Savannah will spur gains in transportation and distribution throughout Georgia.
Ports in Florida are being upgraded to prepare for a rise in trade after the Panama Canal rebuild is done, and the state’s aerospace industry is seeing strong growth with higher activity at Pratt & Whitney and Bombardier.
To view the full report, click here.Source: Modern Metals