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In this August 25, 2010 Publication:
China Overtakes Japan
European Manufacturing Slows in July
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China Overtakes Japan As World's Second Largest Economy
The
Washington Post (8/16, Hosaka) reports, "Japan lost its place to China as the world's No.
2 economy in the second quarter, as receding global growth sapped momentum and stunted a shaky recovery," in
a development that underscores "China's emergence as an economic power that is changing everything from the
global balance of military and financial power to how cars are designed. It is already the biggest exporter,
auto buyer and steel producer, and its worldwide influence is growing." The Post adds that "China has
surpassed Japan in quarterly GDP figures before, but its passing of Japan in the second quarter is likely to
mark the period in which the lead became insurmountable." The Wall Street Journal (8/16, A1, Batson, Wakabayashi, Whitehouse, subscription required)
also reports the story.
European Manufacturing Slows in July
Bloomberg News (8/23,
Thesing) reported, "Growth in Europe's services and manufacturing industries weakened
more than economists forecast in August, signaling the pace of the recovery has
peaked." UK-based Markit Economics revealed "a composite index based on a survey of
euro-area purchasing managers in both industries declined to 56.1 from 56.7 in July."
Additionally, "Economists expected a reading of 56.3, according to the median of 14
forecasts in a Bloomberg News survey. A reading above 50 indicates expansion. Economic
growth is likely to slow from the fastest pace in four years in the second quarter as
a slowdown in the US and China dim export prospects." The euro was also "little
changed against the dollar after the data, trading at $1.2699 at 10:12 a.m. in London,
down 0.1 percent on the day. German government bonds stayed lower after the report,
with 10-year bund yields three basis points higher at 2.29 percent."
Despite World Cup, South Africa Suffers Manufacturing Slowdown. Bloomberg News (8/23,
Seria) reported, "South African economic growth probably slowed in the second quarter
as manufacturing output lost momentum, offsetting the impact of the soccer World Cup
that lured thousands of visitors to the country." The country's GDP "rose an
annualized 3.9 percent compared with the first quarter, when the economy grew 4.6
percent, according to the median estimate of 16 economists surveyed by Bloomberg." The
World Cup likely "added 0.4 percentage points to last quarter's growth rate as
tourists' spending on hotels, restaurant meals and sports goods climbed, according to
Ilke Smit, an economist at Metropolitan Asset Managers. That wasn't enough to offset a
slowdown in manufacturing, which accounts for 15 percent of the economy, as export
demand waned." South Africa's "purchasing managers index fell in the second quarter,
dropping below 50 in June, indicating a contraction in factory output, according to
Kagiso Securities Ltd."
Register for NADCA's Arc Flash Seminar!
Registration for NADCA's Arc Flash Seminar is now open. The seminar will be held September 30 at NADCA
Headquarters in Wheeling, IL. Topics include Arch Flash & OSHA, The OSHA Bottom Line for Electrical Work, and
Addressing Arc Flash Hazards without Breaking the Bank. To register or for more information, click here.
Reduce Costs. Increase Quality. Enhance Productivity
NADCA’s Annual Plant Management Conference will take place on September 22- 24, 2010
at the Amway Grand Plaza Hotel in Grand Rapids, MI. The Conference provides a venue
for operations and plant management personnel to meet and network with peers from
other die casting facilities. Together, attendees can share experiences and gain
knowledge and information through round table discussions, topical presentations and
facility tours at Cascade Die Casting and DieTech & Engineering.
Benefits derived from the exchange of information include: innovation and product
integrity through alternate ways of resolving problems, improved control of processes,
reduced costs, increased quality and enhanced productivity.
Presentations Include:
• Quality & Cost Improvement through Process Control - Scott Kirkman, Die Therm Engineering
• Crisis Management - Randy Block, Kestrel Management Services
• Die Casting Success Stories - Paul Head, Empire Die Casting
For the tentative agenda please visit our
website or to register online please click here. A downloadable PDF of the registration form is also
available for your convenience. The deadline to take advantage of the special room
block rate is August 31, 2010. Don’t miss this opportunity to meet with your peers and
get the answers you need!
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