MAPI Economic Roundtable

MAPI — Manufacturers Alliance News and Reports — Cyber Risk in Advanced Manufacturing and More

Published On November 16, 2016 | By Eric Armstrong | Market Reports
A weekly round-up of the MAPI resources available to NFPA members through NFPA’s membership in MAPI. 

MAPI

Issues in the Brief

MAPI and Deloitte Study: Connected Devices, Industrial Control Systems Expose Manufacturers to Cyber Threats
Nearly half of surveyed manufacturing executives lack confidence their assets are protected from external threats, according to a new study from Deloitte and the Manufacturers Alliance for Productivity and Innovation (MAPI) on Cyber Risk in Advanced Manufacturing.

Does Cybersecurity Keep You Up at Night? It Should.
One day in mid-October, more than 1,200 U.S. websites were taken down by a massive botnet attack launched through hacked Internet of Things (IoT) devices such as home Wi-Fi routers and CCTV cameras. There doesn’t seem to have been a political or criminal motive for the assault. Rather, it was more like some sophisticated hackers taking a joyride at the expense of millions of Americans.

Transatlanticism and the Fate of European Cohesion
For a few years now, I’ve been contributing to Judy Dempsey’s “Judy Asks” feature over at Carnegie Europe, where she poses questions on international topics to various experts. Below are links to some of the questions I’ve answered this year—click through to read my responses and those of other experts, including from Johns Hopkins, the Council on Foreign Relations, The Economist, and the Financial Times.

We’ll Always Have Paris
Last year the world waited to see if the hype surrounding COP21 in Paris would produce a global commitment between heads of state to help stem the tide of rising temperatures. Since that historic week in Paris, 87 of the 197 countries who are party to the newly produced Paris Agreement have achieved ratification.

Keep Calm. You’re Prepared. (Right?)
Manufacturers are already used to dealing with delays and run-of-the-mill challenges, but they are increasingly finding they must navigate more serious workplace threats and disruptions. They are responding by implementing security, crisis management, and business continuity plans to help prepare for, respond to, and mitigate interruptions.

Little Progress on U.S. Trade Agreements
After multiple holdups, a new trade agreement has been reached between the EU and Canada. The Comprehensive and Economic Trade Agreement (CETA), for which negotiations began in 2009, was signed on October 30 after the EU bridged differences among some constituencies.

 

Economic Update

How Important Is U.S. Manufacturing Today?
Manufactured goods are ubiquitous at home, in transit, and at work, but the narrow definition of manufacturing industries in national statistics implies that the sector is of only minor importance to economic activity. The traditional finding is that manufacturers’ proportion of gross domestic product (GDP) is only about 11% and manufacturing’s share of economy-wide full-time equivalent employment is just 9%.

U.S. Industrial Outlook: Growth Acceleration Is Around the Corner
Manufacturing industrial production was essentially unchanged in the first quarter of 2016 and then fell at a 1% annual rate in the second quarter. July production grew at a 6% annual rate, so the third quarter is off to a good start. The strong July begs the question of whether the month’s growth was a fluke.

Cyber Risk in Advanced Manufacturing
MAPI and Deloitte collaborated on a study to identify cyber risks in advanced manufacturing.

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About The Author

oversees NFPA’s fluid power economic and statistical programs. He blogs on the Market Outlook about what he learns from NFPA’s surveys and reports as well as fluid power industry economists.

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