Economists indicate Americans are still building despite issues with the supply chain. Industrial production rose 0.9% in March, more than double what was expected. February numbers also showed improvement, all despite new supply chain problems stemming from more lockdowns and the war in Ukraine.
Production was led by a 7.8% in car manufacturing off a 5% decline the month before. Auto assemblies jumped 23% last month to 1.86 million. Supply chain issues have hit the auto industry particularly hard.
The manufacturing sector overall is seeing more gains than losses.
Warmer weather has helped boost utility production, while mining is up another month, likely due to increased drilling to compensate for oil production sanctions against Russia imposed because of the Ukraine war.
Despite the promising numbers, analysts warn global supply chains remain unpredictable and that production may again falter in the near-term amid disruptions as producers still have difficulty procuring inputs.
When it comes to the construction industry, this is a good sign for contractors trying to decide to continue or start projects. With construction machines down, parts have been delayed on order, but now it appears as the supply chain may start improving for the summer.
If you need parts for your machines, give ConEquip Parts a call.
