Machinery
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Machinery industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
Industries in the Machinery Manufacturing subsector create end products that apply mechanical force, for example, the application of gears and levers, to perform work. Some important processes for the manufacture of machinery are forging, stamping, bending, forming, and machining that are used to shape individual pieces of metal. Processes, such as welding and assembling are used to join separate parts together. Although these processes are similar to those used in metal fabricating establishments, machinery manufacturing is different because it typically employs multiple metal forming processes in manufacturing the various parts of the machine. Moreover, complex assembly operations are an inherent part of the production process.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had increased 0.2 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry increased 1.8 percent.
- Prices increased 6.8 percent in the five year period starting in January 2015 and ending in January 2020.
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- As of January 2020, costs in this industry had increased 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry 0 percent.
- Costs increased 8.7 percent in the five year period starting in January 2015 and ending in January 2020.
For details on which industries are included in each sector, click here
- The largest cost for this industry is purchases made to the Manufacturing sector. This sector accounts for 55.7% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Labor sector. Costs associated with this sector increased 2.8%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Manufacturing | 55.7% | -1.2% |
| Labor | 29.7% | +2.8% |
| Management of Companies and Enterprises | 5.2% | -1.5% |
| Professional, Scientific, and Technical Services | 2.9% | -0.3% |
| Wholesale Trade | 1.3% | +1.7% |
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- As of July 2019, demand for this industry had increased 8.2 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 27 percent.
- Costs increased 35.2 percent in the five year period starting in July 2014 and ending in July 2019.
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- The sector that contributes the most to this industry's demand is the Private fixed investment sector. This sector accounts for 51.4% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Exports sector, where demand increased 43.4%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Private fixed investment | 51.4% | +43.4% |
| Exports | 19.9% | +43.4% |
| Manufacturing | 12% | -1.4% |
| Construction | 5% | -1.5% |
| Mining, Quarrying, and Oil and Gas Extraction | 2.8% | -3.4% |
- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU333---333---.
- Costs measured from January 2020
- Demand measured from July 2019
