NAM Report: Benchmark Wipes Out Five Years Of Manufacturing Growth According to an economic update from the National As- sociation of Manufacturers (NAM), manufacturing output was unchanged in September after edging up 0.1 percent in August, and production now stands at 97.0 percent of its 2017 average—just 1.5 percent higher than the same month last year. Capacity utilization slipped to 75.5 per- cent, down 0.1 percentage point from August but still 1.0 percent above a year earlier. The Federal Reserve’s annual benchmark revision, released in late November, reshaped the recent narrative for the sector, showing that manufac- turing output declined on net from early 2020 through August 2025. Previous estimates had suggested modest growth over that period. The revision also widened the gap in capacity utilization: manufacturing now sits 2.7 per- centage points below its long-term average, instead of the earlier estimate of 1.4 percentage points below. Manufacturing activity continued to soften in Novem- ber. The ISM Manufacturing PMI contracted for the ninth straight month, slipping from 48.7 percent to 48.2 percent and remaining below the fifty percent threshold that sig- nals expansion. Two demand components—New Export Orders and Customers’ Inventories—improved modestly to 46.2 percent and 44.7 percent, respectively, while both New Orders and Backlog of Orders declined at faster rates. Although the Production Index returned to growth, rising from 48.2 percent to 51.4 percent after October’s contraction, broad weakness across all four demand indi- cators underscores how fragile the recovery remains. Sur- vey respondents continued to cite uncertainty and higher tariff-related costs as key pressures, noting that softer de- mand expectations are prompting tighter headcounts and more cautious planning as firms move into year-end. Globally, manufacturing conditions were somewhat more resilient. The worldwide PMI eased from 50.9 to 50.5 in November but stayed in expansion territory for another month. Output and new orders rose for the fourth consecu- tive month, suggesting steady forward momentum. Inven- tories continued to contract, and lead times lengthened for the eighteenth straight month, signaling persistent strain across global supply chains. Still, expectations im- proved, with business optimism rising to a five-month high as firms reported a more stable demand environment in several key markets. Import price pressures remained uneven across U.S. manufacturing sectors. In September, import prices for manufactured goods rose 0.3 percent over the year, while nonmanufactured import prices declined 2.2 percent. Broadly, lower prices for select goods continue to help temper producer and consumer inflation, but substan- tial increases for critical imported inputs are still placing disproportionate pressure on manufacturers, particularly those reliant on metals and other globally sourced raw materials.
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SAUER SYSTEM www.sauersystem.com
Sauer provides intelligent solutions for scoring, slitting, slit-scoring, and perforating on corrugators and floor slitters; and glue tab cutting, creasing, slotting, trimming and scrap chopping on presses. New, featured offerings include FRX Adjustable Folding Rail System and G3 Scoring System: the latest proven creasing technology on the market.
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Interactive website for Stafford Corrugated Products and Stafford Cutting Dies. Featuring online ordering of replace- ment parts. Also, visitors can automatically calculate sheet size for most die-cut standards.
SUN AUTOMATION GROUP ® www.sunautomation.com
SUN Automation Group is the global leader in providing innovative solutions to the corrugated industry. SUN engi- neers and builds the SUN625 Rotary Die Cutter, provides sales, service and support in North and Central America for Latitude Machinery Corporation, manufacturer of Mini to Jumbo FFG and RDCs. Additionally, SUN is the North Amer- ican, UK and Ireland sales and service provider for Para Machinery’s line of equipment, and is the North American sales provider for Highcon. SUN also powers the corrugat- ed industry’s premier IIoT platform, Helios, and is the OEM source for Langston/Staley equipment parts and service. THACKER INDUSTRIAL SERVICE COMPANY www.thackerindustrial.com Specializing in corrugated machinery, T.I.S.CO. offers quali- ty-made products, support services, and more. T.I.S.CO. has a reputation of dependability, not only in the product, but in service and support. With more than 25 years’ experience, T.I.S.CO. installs equipment and machinery, moves or sets up entire plants, rewires and rebuilds - all over the world. VT GROUP www.vtgrouponline.com VT offers prepress services for the POP display and corru- gated shipping container industry including graphic design, optimized digitally imaged printing plates and innovative pre-mounting solutions. Our large-format digital printing fa- cility (Digital Impact) is a leading short-run manufacturer of distinctive POP displays and signage where litho-like graph-
ics are preferred. WPR SERVICES www.wprservices.net
WPR Services was established in 2016. What originally start- ed as a technical services company expanded its product offerings to include a machine center learning platform POWtalk™. Our analysis of video, audio, machine metrics, employee ergometrics, and person to person conversation provides a way to identify safety and process inefficiencies.
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December 15, 2025
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