The Dallas News Business section has reported some information about the coming year that comes courtesy of BBVA Compass. According to that firm's research, the Lone Star State could see a growth in the strength of its manufacturing. This would continue the comeback this sector has seen last year.
The source overall predicted that the state will grow its entire GDP in excess of 2 percent. Strong recovery has also been seen in the general rate of employment, which seems to have been progressing steadily since righting itself in 2011, and is expected to continue as we move further into the new year. While oil and other energy services are slowing, they do seem to still offer more security for the future.
And this is just the local manifestation of a nationwide push to help spur this aspect of the domestic economy. The New York Times reported on retailers' efforts to support domestic manufacturing, highlighting Walmart's pledge to dedicate $10 million to promoting this sector.
Walmart has also promised to source more of its products from domestic manufacturers. Last year, the retailer announced that it would increase its spending on American-made products by $50 billion over the next 10 years. This reportedly has some of the company's partners considering moving their operations back into the country.
In this climate, manufacturers in the Dallas area may need the help of a local custom machining facility to keep their equipment in working condition. This can be efficient for both individual companies, their partners, and the industry as a whole, as pieces are made to last longer.