Amtek Engineering Ltd, Singapore

Manufacturing Sector Buoyed By Exports - The National Association of Manufacturers (NAM) says that exports of US manufactured goods has kept the US out of a recession for the previous two quarters. According to NAM, capital goods exports such as autos and parts account for more than a third of total US exports and nearly half of all manufactured exports. US fabricated metal product exports rose 8.4 percent in the first four months of 2008 compared to the same period a year earlier.

GM to Shutter Plants, may Kill Hummer - GM says that the company will close four plants in the US, Canada, and Mexico amid slumping demand for the company's pickup- and SUV-heavy product lineup. Sales of pickups and SUVs have dropped dramatically in the face of record oil prices. The closures are expected to yield $1 billion in annual savings starting in 2010. GM also says that it may discontinue the Hummer brand, and its shift to a smaller car strategy is permanent. New orders for US autos and parts, an indicator of demand for fabricated metal parts, dropped 12.3 percent in April 2008 compared to a year earlier.

Metal Formers Expect Little Change - In the May 2008 Precision Metalforming Association Business Conditions report, metal forming companies predict few changes over the coming months. About 50 percent of metal forming businesses surveyed say that they expect general economic conditions to stay about the same. Metal formers also expect orders to remain the same, with about 46 percent anticipating incoming orders to be flat. Shipping levels in May were more mixed with 36 percent of metal formers reporting a drop, while 44 percent reporting no change.