Many research firms send news releases. Most have suspect (to me) research methodology. I only had one grad school seminar and a couple of statistics classes, but I’ve also gathered considerable experience. So, my BS sensor is usually pretty good. After a couple of conversations with Interact Analysis CEO Adrian Lloyd, I have a comfort level with how they approach these studies.
This study of global manufacturing industry growth in 2022 shows:
- Global manufacturing industry growth reached 3.8%
- Machinery sector growth outperformed manufacturing in 2022.
- Americas region to grow by 3.1% in 2023.
- Germany and the UK experiencing significant challenges in current economic climate.
Adrian Lloyd, CEO at Interact Analysis, adds, “The COVID-19 pandemic has had an undoubted impact on the world and many regions, especially China, are still suffering from the aftereffects. This, coupled with rising interest rates, inflation and supply chain constraints, have created the perfect storm. In Europe, the UK and Germany are perhaps suffering the most and this is expected to continue for the next few years. The situation in the US seems to be a little rosier, where growth in 2022 reached 8.7% for manufacturing, and 12% for machinery production overall.”