A gloomy economic report forecasts diminished automotive tool spending and shop closures. The overriding concern of the moment, however, is the COVID-19 pandemic, which has temporarily shuttered some North American auto plants and thrown the economy into turmoil.
In a Wall Street Journal article last month, author Matt Ridley argued that "Innovation Can’t Be Forced, but It Can Be Quashed". After noting that innovation has been slower in hardware than in software, the article argues that this is mainly because "bits are lightly regulated and atoms are heavily regulated.
The second of three monthly surveys conducted by Harbour Results Inc. (HRI), the May poll shows that all mold/tooling and production shops (molders, die casters, and stampers) are open and operating at some level but that nearly every industry and manufacturing process has been impacted.