March 2024, Volume 1

MANUFACTURING DATA REPORTS

Manufacturing data reports from the Institute for Supply Management (ISM) are released at the beginning of every month and can be accessed at ISM. The latest report says economic activity in the manufacturing sector contracted in February for the 16th consecutive month following one month of “unchanged” status and 28 months of growth prior to that.

The electrical equipment, appliances and components sector, as well as the computer and electronic products sector, reported contraction in February. Read the full report.

INDUSTRY NEWS

> Industrial Distribution reports that according to a new survey by the National Association for Business Economics, the economy looks set to grow 2.2 percent in 2024 after adjusting for inflation. That’s up from the 1.3 percent that economists predicted in the association’s prior survey, which was conducted in November 2023. Read more.

> In late February, Illinois governor J.B. Pritzker announced a $500 million allocation towards the advancement of the semiconductor industry, quantum computing and artificial intelligence in the state. Read more.

> ERA and its legal partner SFBBG wish to alert the industry of a new rule from the U.S. Department of Labor (DOL), effective March 11. The DOL has clarified worker classifications under the Fair Labor Standards Act, redefining independent contractor status according to new factors. SFBBG recommends that businesses who rely on independent contractors should take this opportunity to assess their workers’ classifications in order to mitigate the risk of penalties and litigation resulting from workforce misclassification. Read more.

INDUSTRY TRENDS SURVEY

The March ERA Electronics Components Industry Trends survey is now in your inbox! Check your inbox and fill out the survey today.

View survey results

Please note: ERA sends this survey monthly to one contact from each ERA member firm via email. Please be on the lookout for this survey in your email inbox. The email will come from no-reply@mail.client.edgewaterresearch.com. If you have questions about who the survey contact is for your organization, or would like to change this contact, please email Edgewater Research.

If you have been completing the survey monthly, many thanks! This survey is only made better by a robust and diverse universe of responding companies. Help make this survey a valuable resource for you and the rest of ERA membership by taking 5 minutes to complete this each month. The results are visible only to ERA members and provides valuable insight into what ERA members see on the horizon for the near and long term.

VIEW SURVEY RESULTS

ERA NEWS

> The sold-out 2024 ERA Conference was a resounding success! Thank you to the Conference Planning Committee for planning a stellar line-up of educational sessions for the attendees. Read about the various award winners and scholarship recipients that were recognized at the Conference. Interested in volunteering for the 2025 Conference? Complete the volunteer form. Finally, for Conference attendees, check your email inbox for instructions on how to access Conference presentation files and audio recordings.

> With a brand-new venue for EDS 2024, we are all first timers. Get ready and informed by joining the EDS + Resorts World Better Together Orientation Webinar – live on Zoom, this Friday, March 15 at 11 AM EDT. Register today! You’ll learn: Resorts World wayfinding; dining and retail options; branding opportunities and amenities; meeting rooms, hotel rooms and suite accommodations; and EDS tips, tricks and best practices.

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