The most recent data from the Commerce Department shows that sales and other economic indicators increased in March, likely leading to continued strong hiring in many manufacturing sectors.
Specifically, inventories increased by 1 percent in the month and sales rose by 2.2 percent, according to Bloomberg. This latter figure was the largest increase since March of last year.
Michael Brown, an economist with Wells Fargo Securities LLC, told the news source that these numbers indicate that manufacturing will likely increase.
“Inventory-to-sales ratios are starting to decline and this typically signals a need to increase manufacturing output to keep up with demand,” he said.
A specific example of industrial production increasing is the Dow Chemical Company’s recent announcement that it would invest $40 million in its South Charleston, South Carolina plant, reports the Charleston Daily Mail.
The company plans to hire about 75 to 90 workers, although they will simply be transferring from one job to another.
“It’s exciting for us,” Jim Guidarini, the head of Dow’s operations in West Virginia, told the news source. “We have not invested a whole lot of money over the last five years in that site. Now we’re preparing to be ready for the long term.”