Global Manufacturing Economic Update: August 8, 2014

A Publication of the National Association of Manufacturers
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August 8, 2014  
NAM/IndustryWeek Survey of Manufactures Business Outlook by Quarter, 2012-2014  

The International Monetary Fund (IMF) predicts that world output will grow 3.4 percent in 2014, down from 3.7 percent in its April forecast . Much of the downward movement stems from weaker-than-expected data from the first quarter. In the United States, for instance, real GDP declined by a disappointing 2.1 percent, and even with a rebound in the second quarter, the economy expanded by just 0.9 percent in the first half. Fortunately, manufacturers are mostly upbeat about the second half, and the IMF predicts 1.7 percent and 3.0 percent growth in the United States for 2014 and 2015, respectively. Europe is anticipated to grow 1.1 percent this year, and the Chinese economy should increase by 7.4 percent. While the emerging markets as a whole have started to see signs of improvement, notable weaknesses still exist in Brazil, Russia and South Africa, to name just a few. Geopolitical risks abound, of course, with crises around the world also negatively impacting activity.

The good news is that global manufacturing activity continues to expand modestly, with the pace little changed in July from June. New orders, production and employment growth slipped a little for the month, but exports picked up. In July, 8 of the top 10 markets for U.S.-manufactured goods had expanding economies, with Brazil and South Korea contracting once again. Among the expanding nations, Canada and China saw accelerating levels of manufacturing demand and production in July, with relatively decent growth seen in both the Netherlands and the United Kingdom . At the same time, manufacturers in the United States have continued to rebound from softness earlier in the year. The Institute for Supply Management's Manufacturing Purchasing Managers' Index (PMI) increased to its highest level since November on strong output and sales growth.

The Chinese economy has begun to stabilize, with manufacturers in China expanding for the second straight month. New orders, exports and production growth all strengthened in July, and we anticipate a pickup in industrial production and fixed-asset investment rates when they are released next week. China's real GDP has increased slightly, from 7.4 percent at the annual rate in the first quarter to 7.5 percent in the second quarter. Meanwhile, Eurozone manufacturers have now expanded for 13 straight months, but activity has decelerated since January. Confidence measures have weakened, year-over-year inflation remains very low and the unemployment rate stayed elevated (even as it fell to 11.5 percent). Still, the latest industrial production and retail sales have reflected a rebound.

In general, we have seen the U.S. trade deficit narrow over the past couple years as we have become less dependent on foreign sources of energy. In June, the trade deficit was at its smallest level since January, as goods imports declined at a faster pace than goods exports increased. Still, we continue to see relatively slow growth for U.S.-manufactured goods exports, which have increased 1.7 percent year-to-date. Ideally, we will see improvements moving into the second half, as the current pace represents a deceleration from last year's 2.6 percent rate of growth.

The last month saw important progress in ongoing trade negotiations with Europe and 11 Pacific Rim nations, as well as environmental goods talks in the World Trade Organization (WTO). However, India and others successfully blocked agreement on a global trade facilitation package that would add an estimated $1 trillion to the world economy, potentially setting up a last-ditch effort to revive the deal in September. Responding to rising tensions in the Ukraine, the United States and the European Union (EU) imposed fresh sanctions on Russia in the financial, energy and defense sectors.

With Congress now in recess for the month of August, manufacturers are engaging Senators and Representatives in their states and districts and gearing up for action in the fall on a range of stalled trade measures""including reauthorization of the Export-Import Bank, Trade Promotion Authority, a miscellaneous tariff bill and the Generalized System of Preferences. A House bill that would provide access to federal civil enforcement for trade secrets theft is fast gaining cosponsors, laying the groundwork for a Judiciary Committee markup and possible passage in September. The planned official visit of India's new Prime Minister, Narendra Modi, to Washington at the end of next month will provide another opportunity to address outstanding trade and investment barriers in that important market.

  Chad Moutray
Chief Economist
National Association of Manufacturers
  Global Economic and Trade Trends

The global economy has improved somewhat over the past few months; yet, there was little difference overall between June and July
The J.P. Morgan Global Manufacturing PMI edged marginally lower, down from 52.6 in June to 52.5 in July. Yet, the data were largely unchanged from last month, and the pace of growth remains slightly improved from three months ago. Indices for new orders (down from 54.2 to 54.0) and output (down from 54.0 to 53.9) eased a little, but still reflected modest growth overall. Hiring (down from 51.0 to 50.4) also slowed, but export sales (up from 51.1 to 51.5) picked up a little.  

Looking at the top 10 markets for U.S.-manufactured goods, all but two of them had expanding levels of activity in July, the same as the month before and continued progress from just five in expansion in May. Brazil (up from 48.7 to 49.1) and South Korea (up from 48.4 to 49.3) continue to experience contractions in their economy, but each made some minor progress last month. Outside of those two nations, the data were largely mixed. Manufacturing activity decelerated in the United States (down from 57.3 to 55.8), Germany (down from 52.4 to 52.0), Mexico (down from 51.8 to 51.5) and the United Kingdom (down from 57.2 to 55.4), but it picked up a bit in Canada (up from 53.5 to 54.3), China (up from 50.7 to 51.7) and the Netherlands (up from 52.3 to 53.5).

In contrast to Markit's analysis, the Institute for Supply Management (ISM) found that manufacturing activity picked up in July. The ISM Manufacturing PMI rose from 55.3 in June to 57.1 in July, its highest level since November. More importantly, the production index has measured 60 or more for each of the past three months, indicating strong output growth. Demand and hiring also rose sharply, but export sales growth eased and raw material costs remained elevated.

The Chinese economy continues to stabilize, with manufacturers in China expanding for the second straight month
The HSBC China Manufacturing PMI rose from 50.7 to 51.7. This marks the fastest pace since January 2013 and signals that the sector has begun to recover after contracting from January to May of this year. The underlying data were mostly higher across the board, with accelerating levels for new orders (up from 51.8 to 53.3), exports (up from 50.7 to 52.6) and output (up from 51.8 to 52.8). Still, growth remains modest overall, and employment growth (up from 48.7 to 49.4) has been negative in 15 of the past 16 months, albeit with some easing in the rate of decline last month.  

Chinese GDP has also shown slight improvement of late, up from a year-over-year pace of 7.4 percent in the first quarter to 7.5 percent in the second. We will get new data for industrial production and fixed-asset investment next week, but the June data reflected a pickup for each. Industrial production has increased 9.2 percent over the past 12 months and has continued to edge higher since bottoming out at 8.6 percent in February. Likewise, fixed-asset investments in manufacturing rose 14.8 percent year-over-year in June, up from 14.2 percent in May. Nonetheless, investment remains decelerated from a more-robust 18.5 percent year-over-year pace observed in December for the sector. Indeed, all of the Chinese data seem to reflect this easing in activity; while growth has stayed strong, it has slowed significantly from what businesses are accustomed to seeing.

There has been slightly improved growth in the emerging markets, led by China, the Czech Republic, India and Taiwan
While the HSBC Emerging Markets Index eased a bit (down from 52.3 to 51.7), its manufacturing component increased (up from 50.8 to 51.5) to its highest level since January 2013. The progress resulted from faster paces across the board in a number of manufacturing measures, including new orders (up from 51.8 to 52.7), output (up from 51.4 to 52.4), exports (up from 51.1 to 51.7) and employment (up from 49.6 to 50.1). It marks the first positive reading on hiring since March. More importantly, survey respondents were more upbeat about future output (up from 63.3 to 64.3); while this was still not as optimistic as in February (68.4), it hopefully suggests the beginning of a rebound from recent softness.   

Looking at Brazil, Russia, India and China (BRIC), three of them noted improving levels of manufacturing activity in July. In addition to the stabilization seen in China (up from 50.7 to 51.7), India's (up from 51.5 to 53.0) manufacturers reported their fastest pace of growth since December 2012, led by stronger domestic demand and production. Exports eased a bit, and hiring contracted somewhat, however. At the same time, Russia (up from 49.1 to 51.0) expanded for the first time since October on increased new orders and output. With that said, export sales (down from 47.7 to 43.1) have deteriorated to their lowest level in five years as global tensions continue to mount over Ukraine. Nonetheless, Brazil (up from 48.7 to 49.1) had contracting levels of activity across the board, with its PMI staying below 50 for the fourth straight month. Yet, Brazilian sales and output improved, and employment growth turned positive for the first time since March.

Outside of the BRIC nations, the Czech Republic (up from 54.7 to 56.5), Indonesia (unchanged at 52.7) and Taiwan (up from 54.0 to 55.8) saw decent growth in manufacturing output. Activity in the Czech Republic bounced back in July after softening in June, and Taiwanese manufacturers experienced their fastest pace of growth since April 2011. Vietnam (down from 52.3 to 51.7) also experienced modest growth in activity, but with demand and output easing. In contrast, Poland (down from 50.3 to 49.4), South Africa (down from 49.5 to 46.4), South Korea (up from 48.4 to 49.3) and Turkey (down from 48.8 to 48.5) contracted again with new orders, output and exports falling. Ironically, all three of these countries had hiring picking up in July, which is interesting, given the slower activity levels across the board in other data points. This could be an encouraging sign for the future.

Eurozone manufacturers have now expanded for 13 straight months, but activity has decelerated more recently amid lingering deflationary worries
The Markit Eurozone Manufacturing PMI held steady in July (51.8), with growth in activity continuing to ease from January's 54.0 reading. The news coming out of Europe includes a complicated mix of increased confidence after a steep two-year recession and continuing challenges related to slow economic and labor market growth. Manufacturing data were equally varied. The pace of new orders (up from 51.9 to 52.1) and exports (up from 52.4 to 52.6) increased marginally, but production (down from 52.8 to 52.7) and hiring (down from 50.3 to 49.9) slipped a little. Employment growth fell back into contraction territory""albeit barely""after six consecutive months of positive gains.  

This complexity also appears in the country-by-country numbers. French manufacturing activity (down from 48.2 to 47.8) continues to worsen on deteriorating levels of new orders and output. The country's manufacturing PMI has contracted in all but three months since July 2011, and the latest data are a disappointment after the improvements seen in March and April. Greece (down from 49.4 to 48.7) has been similarly frustrating. Other nations are seeing modest growth in their manufacturing sectors, including Austria (up from 50.4 to 50.9), Germany (up from 52.0 to 52.4), Ireland (up from 55.3 to 55.4) and the Netherlands (up from 52.3 to 53.5). In each of these four markets, however, employment growth remains a challenge. In addition, we are seeing decent growth in Italy (down from 52.6 to 51.9), Spain (down from 54.6 to 53.9) and the United Kingdom (down from 57.2 to 55.4) despite some deceleration in the month of July in many of the key indicators.

Overall growth in the Eurozone remains subpar but potentially improving. Real GDP rose just 0.2 percent in the first quarter and is expected to increase by 1.1 percent in 2014 as a whole. Next week, we will get new data for second quarter GDP and June industrial production, with each expected to show slight growth. For instance, industrial production is anticipated to rebound from May's 1.1 percent decline. Along those lines, we have already seen better retail sales data for June, up 0.4 percent after remaining flat in May. Moreover, the unemployment rate has fallen to 11.5 percent, its lowest level since September 2012. Yet, it remains quite elevated, with job and income growth worries pervasive. As a result, the ZEW Indicator of Economic Sentiment weakened again in July, and deflationary worries continue to cause concern. As of July, Eurozone inflation had risen just 0.4 percent over the past 12 months, down from 0.5 percent year-over-year in June.

North American manufacturers reported differing trends in July
The RBC Canadian Manufacturing PMI improved for the second straight month, up from 53.5 to 54.3. The underlying data were higher across the board, including new orders (up from 54.1 to 55.2), output (up from 53.8 to 55.2) and exports (up from 51.4 to 52.0). Looking at economic indicators, second quarter real GDP is expected to improve upon the 1.2 percent rate observed in the first quarter, with 2.3 percent growth anticipated for 2014 as a whole. In May, manufacturing output jumped 0.8 percent on the strength of motor vehicles, primary metals and furniture production. Retail sales have also seen decent gains of late, up 1.3 percent and 0.7 percent in April and May, respectively. Total retail spending has increased 4.0 percent year-over-year.  

Meanwhile, the HSBC Mexico Manufacturing PMI edged slightly lower, down from 51.8 to 51.5. The pace of growth has not changed much over the past six months, however, averaging 51.8 since January. New orders (unchanged at 53.8) and exports (up from 52.0 to 53.0) were bright spots in the July survey, but production (down from 52.0 to 51.8) eased a bit. Hiring (unchanged at 49.3) was negative for the second straight month. Real GDP is expected to increase 2.5 percent in 2014, with second quarter output improving upon the first quarter rate of 1.8 percent. Manufacturing production has increased 3.6 percent in May, an improvement from softness in April. Mexico's unemployment rate was 4.8 percent in June, down from 4.9 percent in May but higher than the 4.3 percent rate observed in December.

Reduced goods imports helped to narrow the U.S. trade deficit in June
The U.S. trade deficit narrowed for the second straight month, down from $44.66 billion in May to $41.54 billion in June. This marks the smallest trade deficit since January's $40.05 billion level. Still notable is that it has been larger in 2014, averaging $43.34 billion over the first six months of the year, than it was in 2013, averaging $39.70 billion for the whole year. The larger year-to-date trade deficit has largely stemmed from growth in goods imports outpacing growth in goods exports.

With that said, in June, goods imports declined (down from $200.05 billion to $197.16 billion); whereas, goods exports increased marginally (up from $136.74 billion to $136.87 billion). This explained the bulk of why the U.S. trade deficit narrowed for the month. The petroleum trade deficit also factored in, narrowing slightly in June (down from $8.89 billion to $8.15 billion).

Looking specifically at goods exports by sector, the data were mostly positive, but not significantly so. Consumer goods (up $411 million), automotive vehicles and parts (up $163 million), industrial supplies and materials (up $51 million) and non-automotive capital goods (up $33 million) experienced growth in exports in June. In contrast, exports of foods, feeds and beverages (down $264 million) were off for the month because of reduced international sales for soybeans and fish and shellfish. The trade deficit's June decline can be explained by falling goods imports for consumer goods (down $1.28 billion), automotive vehicles (down $1.07 billion), industrial supplies and materials (down $548 million) and non-automotive vehicles (down $259 million).

Manufactured goods exports continue to grow slowly year-to-date
According to the latest trade data from Trade Stats Express , U.S.-manufactured goods exports have increased 1.7 percent in the first six months of 2014 relative to the same time frame in 2013. This represents a deceleration in last year's 2.6 percent pace. It was higher than the 1.1 percent year-to-date rate seen through March, however.

Looking at the top five markets for U.S.-manufactured goods, the data were mixed. Exports to our largest trading partner Canada have been flat each of the past two years, declining somewhat year-to-date in 2014. China's exports were strong at 9.4 percent, but slower than last year's 18.4 percent pace. Meanwhile, there Mexico, Japan and Germany saw pickups in export growth. Here are the breakdowns (using seasonally adjusted data):

  • Canada (down 0.7 percent, from $134.72 billion year-to-date in 2013 to $133.85 billion in 2014)
  • Mexico (up 5.5 percent, from $100.36 billion to $105.86 billion)
  • China (up 9.4 percent, from $40.41 billion to $44.20 billion)
  • Japan (up 0.3 percent, from $26.84 billion to $26.93 billion)
  • Germany (up 7.6 percent, from $20.94 billion to $22.52 billion)

  International Trade Policy Trends

U.S. and Europe conclude sixth round of trade negotiations
The EU hosted the sixth round of Transatlantic Trade and Investment Partnership (T-TIP) talks in Brussels last month. Early reports indicate negotiators moved to joint text in some areas, such as market access, dispute settlement, legal issues, textiles and rules of origin. Negotiators also discussed next steps on tariff offers. It appears progress is being made on intellectual property, as well as regulatory issues for autos, pharmaceuticals, chemicals, cosmetics and other sectors. The United States proposed text on regulatory coherence, which will be discussed further at the next round. The Office of the U.S. Trade Representative (USTR) released this statement at the end of the sixth round. The European Commission issued a separate fact sheet on the state of play. U.S. negotiating objectives can be found here, and the EU’s initial negotiating positions in a number of areas can be found here . On July 7, the NAM submitted detailed comments regarding the investment provisions in the T-TIP in response to the EU consultation on this issue. The next round of negotiations will be held in the Washington, D.C., area beginning September 29""just days before a high-level “stocktaking” meeting between U.S. Trade Representative Michael Froman and EU Trade Commissioner Karel DeGucht, slated for October 13. An eighth round is expected in December. For more information, please contact Jessica Lemos .

Pacific trade talks move closer to conclusion; Republicans urge TPA first
Chief negotiators from the 12 Trans-Pacific Partnership (TPP) countries met in Ottawa, Canada, from July 3 - 12. While they narrowed a number of differences, significant outstanding issues remain in market access and other parts of the agreement. Chief negotiators are scheduled to meet next in Hanoi, Vietnam, from September 1 - 10. However, House and Senate Republicans are urging the Administration not to conclude a deal without first securing Trade Promotion Authority (TPA). In a July 17 letter to Ambassador Froman, all 23 House Ways and Means Committee Republicans pledged to oppose TPP if the agreement""or even an agreement in principle""is completed before TPA is enacted. At a Senate Finance Committee hearing last week, Ranking Member Orrin Hatch (R-UT) expressed the same view, saying that “if the Administration chooses to negotiate and conclude a trade agreement such as the Trans-Pacific Partnership, even in principle, without first having TPA, they do so without Congress' authorization.” The NAM continues to push for a comprehensive, ambitious, high-standard TPP agreement with concrete market-opening provisions, strong protections for intellectual property rights and investment, and new disciplines on cross-border data flows and other issues. On July 11, the NAM sent a letter signed by 18 manufacturing associations to Ambassador Froman highlighting the importance of eliminating tariffs on U.S. manufacturing exports. For more information, please contact Jessica Lemos .

The NAM participates in launch of environmental goods talks in Geneva
In July, Lemos participated in the official launch of the Environmental Goods Agreement (EGA) negotiations at the WTO in Geneva. Manufacturers welcomed these efforts to build on progress already achieved in the Asia-Pacific Economic Cooperation (APEC) forum to eliminate and reduce tariffs on green goods. The Coalition for Green Trade , co-chaired by the NAM and others, also launched this month and released a global business letter by a broad range of international industry associations in support of the EGA talks. The NAM submitted these comments to the European Commission last week as part of its public consultation on the EGA negotiations. For more information, or if you would like to join the NAM's Environmental Goods Negotiations Task Force, please contact Jessica Lemos .

WTO Trade Facilitation Agreement stalled
Resistance by India and a small group of other countries blocked implementation of the WTO Trade Facilitation Agreement  (TFA) reached last year in Bali. Late on July 31""the deadline for the WTO General Council to accept notification of certain commitments, adopt the Protocol of Amendment and open the protocol for acceptance""WTO Director-General Roberto Azevêdo announced no solution to the impasse could be found. In a statement issued last week, Ambassador Froman pledged to “consult with our trading partners on potential paths forward.” Some see an opportunity to recoup losses when trade negotiators return to Geneva in September. In the weeks leading up to the July 31 deadline, the NAM and eight other associations sent a letter to trade ministers from India and other G20 countries urging support for the TFA. The NAM remains committed to the objectives outlined in the TFA. We will continue to work with our business community partners to launch a Global Coalition for Trade Facilitation to provide private-sector feedback to the U.S. government on TFA implementation."‹ For more information, contact Lauren Airey .

United States and Europe expand sanctions on Russia as Ukraine tensions mount
On July 29, the Treasury Department  announced  additional sanctions on three entities in Russia's financial services sector and one Russian state-owned defense technology firm. These measures coincide with actions to  suspend U.S. export credit  and development finance to Russia, and they follow a July 17 round of targeted sanctions to prohibit U.S. persons from providing new financing to two major Russian financial institutions (Gazprombank OAO and VEB) and two Russian energy firms (OAO Novatek and Rosneft). Further information on the newly designated entities is available  here.  On the same day, the U.S. Commerce Department's Bureau of Industry and Security (BIS)  announced  a policy to deny export, re-export or foreign transfer of certain items  for use in Russia's energy sector that may be used for exploration or production from deep-water, Arctic offshore or shale projects that have the potential to produce oil. The European Union  adopted  similar restrictions on capital markets and Russian state-owned banks. It also imposed an embargo on new arms sales to Russia and limited sales of dual-use equipment to Russian military buyers. For more information, contact Lauren Airey .

Export-Import Bank reauthorization debate heads into August
The NAM continues to lead business efforts to ensure Export-Import Bank (Ex-Im) reauthorization before its charter expires on September 30. On July 30, Sens. Joe Manchin (D-WV), Mark Kirk (R-IL), Roy Blunt (R-MO), Joe Donnelly (D-IN), Mark Warner (D-VA), Maria Cantwell (D-WA), Tim Johnson (D-SD), and Tim Kaine (D-VA) introduced the Export-Import Bank Reauthorization Act of 2014 (S. 2709). On July 29, the NAM  released  a new  report  titled "The Global Export Credit Dimension" that documents the massive size and growth of foreign export credit activity. As explained in a  Policy Brief  released the same day, tens of thousands of dollars in U.S. exports will be put at risk if the Ex-Im Bank is not reauthorized. You can see the impact of Ex-Im Bank on your state here. There are a number of ways to join the Ex-Im Coalition in advocating for Ex-Im Bank reauthorization over August. For more information, contact Lauren Airey .

NAM urges swift action to strengthen trade secrets protection
Work to strengthen domestic protection and enforcement of trade secrets and establish a strong model for U.S. trade agreements took an important step forward late last month with the introduction of a House bill that would provide access to federal civil courts for trade secrets theft. Sponsored by Reps. George Holding (R-NC), Jerrold Nadler (D-NY), Howard Coble (R-NC), Hakeem Jeffries (D-NY), Steve Chabot (R-OH) and John Conyers (D-MI), the Trade Secrets Protection Act of 2014 would enable manufacturers to enforce their rights more effectively and efficiently. The measure is the House companion to legislation ( S.2267 ) introduced in April by Sens. Chris Coons (D-DE) and Orrin Hatch (R-UT). With a House Judiciary Committee markup of the Trade Secrets Protection Act expected in September, manufacturers are supporting passage of this legislation before the end of the year. The NAM welcomed the bill and joined more than 40 companies and associations on a letter supporting the measure. On July 31, the NAM partnered with the National Alliance for Jobs and Innovation ( NAJI ) and the Center for Responsible Enterprise and Trade ( CREATe ) to host a member webinar highlighting the growing challenge of trade secrets theft and opportunities to strengthen protection and enforcement at home and abroad. The NAM will continue working to do this in ways that advance manufacturing in the United States. For further information, contact Chris Moore.

Manufacturers urge action on commercial concerns ahead of Modi visit
The planned official visit of Indian Prime Minister Modi, to Washington at the end of September will provide another critical opportunity to address manufacturing trade and investment barriers in that important market. In part to prepare for that visit, Secretary of State John Kerry and Secretary of Commerce Penny Pritzker traveled to India on July 31 for U.S.-India Strategic Dialogue talks with Modi and his External Affairs Minister Sushma Swaraj. In remarks following those meetings, Kerry called for action to break down barriers and remove obstacles to trade and investment. The NAM closely follow ed Kerry and Pritzker's visit and will continue to press for results on trade and investment priorities""including forced localization barriers and intellectual property rights protection. Progress on these and other issues will be critical to reinvigorating a promising bilateral partnership. For further information, contact Chris Moore .

The NAM plays leading role to address country of origin labeling (COOL) concerns
The NAM has been working with others in the business community to lead the COOL Reform Coalition, aimed at addressing U.S. country of origin labeling (COOL) requirements for meat that have prompted a WTO case by Mexico and Canada. The coalition has been working to promote reforms to the COOL requirements, which are widely expected to be found WTO noncompliant in the coming weeks and could potentially result in $2 billion in retaliatory tariffs on a broad range of U.S.-manufactured exports. The NAM and others have met with the U.S. Department of Agriculture and participated in several Capitol Hill meetings to educate key lawmakers and their staff on COOL , its potential implications for manufacturers and possible solutions. Last month, the NAM also signed onto a letter to the chairs and ranking members of the House and Senate Agriculture Committees, urging them to authorize and direct the Secretary of Agriculture to suspend the current COOL rule indefinitely upon adjudication of noncompliance by the WTO. For more information, or if your company is interested in getting involved with the coalition's efforts, please contact Jessica Lemos .


  Exports in Action
Energy Efficiency Business Development Mission to China

Date: Dec. 7 - 13, 2014
Location: Beijing, Tianjin, Qingdao and Changzhou

The China-U.S. Energy Efficiency Alliance, in partnership with the U.S. Department of Commerce, will lead a mission designed to help U.S. companies that provide technology and/or services related to energy efficiency enter into or expand operations in the Chinese market. The trip includes opportunities for companies to meet one on one with potential business partners in the locations that have specific needs for energy-efficiency products and services; network with key decision-makers from government and the private sector; understand and learn how to navigate the market in China; and gain practical insights into doing business in China. For more informationclick hereor contact the China - U.S. Energy Efficiency Alliance attrademission@chinauseealliance.orgor (415) 951-8975.  


Department of Commerce to Host Health Care and Energy Business Development Mission to Asia

Dates: Oct. 19 - 23, 2014
Locations: Japan, South Korea

Secretary of Commerce Penny Pritzker will lead a health care and energy business development mission to Asia with stops in Japan and South Korea. This mission is designed to promote U.S. exports to Asia by helping U.S. companies launch or increase their business in the health care and energy sectors, where both Japan and South Korea are investing heavily. Participating U.S. companies will meet with prescreened potential partners, agents, distributors, representatives and licensees. The agenda will also include meetings with high-level national and local government officials, networking opportunities, and country and industry briefings. For more information,click hereor contact the Office of Business Liaison atBusinessLiaison@doc.govor (202) 482-1360.

  Questions or comments?
Contact Chief Economist Chad Moutray at .