Tuesday, August 16, 2022
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How to Stimulate Manufacturing Growth After COVID-19

When covid 19 hit, there were no businesses that weren’t affected by it. Essential and non essential businesses have felt the affect of the falling recession. The manufacturing industry fell quite a bit, but there are ways to stimulate growth even with this upon us. The good news is that states are starting to open up and undo certain restrictions. You can also adapt to the changes and come up with new products, an example of that would be to use technology as a tool.

Key Takeaways:

  • Corona virus has officially effected everybody in the world that we live in.
  • Even though it may not seem like it right now, there are still plenty of opportunities for growth.
  • During this time, it is a great time to try and strengthen the relationships you already have.

“As a result of lockdowns and the strain on the economy, the Institute of Supply Management reported that American manufacturing fell to an index of 41.5% in April – the lowest since April 2009. The contraction rate is not unique to specific manufacturing sectors; the low level demonstrates the impact COVID-19 has had on the industry as a whole.”

Read more: https://www.cmtc.com/blog/stimulate-manufacturing-growth-after-covid-19

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