Montana's manufacturing industry

After four successive years of growth, Montana manufacturers saw a decline in activity during 2008. Through the first half of the year, most of manufacturing actually saw growth, and declines were primarily in Montana's wood products sectors. Based on announced layoffs, total employment and lab...

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Bibliographic Details
Published in:Montana business quarterly 2009-03, Vol.47 (1), p.32
Main Authors: Morgan, Todd A, Keegan, III, Charles E, Brandt, Jason P
Format: Article
Language:English
Subjects:
Business forecasts
Commodity price indexes
Economic aspects
Economic crisis
Employment
Forecasts and trends
Industrial research
Layoffs
Manufacturers
Manufacturing
Manufacturing industry
Profits
Raw materials
States
United States economic conditions
Workers compensation
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Summary:After four successive years of growth, Montana manufacturers saw a decline in activity during 2008. Through the first half of the year, most of manufacturing actually saw growth, and declines were primarily in Montana's wood products sectors. Based on announced layoffs, total employment and labor income in manufacturing were estimated to have decreased by year's end. Overall, Montana's 2008 manufacturing employment was estimated to be about 5% lower than 2007 and about 7% lower than 2001. However, the number of manufacturing workers in Montana during December 2008 was down approximately 800 workers from December 2007. Despite the declines, manufacturing remains a substantial component of Montana's economy. Measured as products left the plants, Montana manufacturers had sales of nearly $8 billion in 2008. The 2009 outlook is for declines in Montana manufacturing activity and related employment, with expectations that the US and other major economies will remain weak through 2009.
ISSN:0026-9921