US GDP outpaces expectations in Q4 with 3.3% growth | Wholesale inventories jumped 0.4% in Dec., down 2.7% YoY | Humanoid warehouse robot set for commercial production
Gross domestic product in the US expanded at an annualized rate of 3.3% in the final quarter of 2023. Wall Street was expecting a rise of 2%. For the full year 2023 the economy accelerated at an annualized pace of 2.5%, also well ahead of expectations. Consumer spending helped drive most of the growth, with personal consumption expenditures up 2.8% for the quarter.
Wholesale inventories increased 0.4% month-to-month in December to $897.7 billion, according to the latest Census Bureau data. Data from November was revised downward from -0.2% to 0.4%. Wholesale inventories have fallen 2.7% over the past year. Retail inventories increased 0.8% in December and 5.3% over the past year.
Humanoid robot developer Kepler says its bi-pedal Forerunner series will be ready for mass production in the second half of the year. Kepler says its robots can be customized to work in various settings, including warehouses and factories, with outdoor and hazardous environment versions available. The company touts the robots' "exceptional precision" in simulating human muscle movement and software that provides high-level hand-eye coordination and real-time interaction with its environment.
Automating with AI at the industrial edge Cloud resources remain a vital tool for manufacturers, but on-site edge devices are now capable of AI inferencing to help reduce latency, save on bandwidth costs, and allow businesses to retain full ownership of their data. Join experts from Red Hat, OnLogic, and Guise AI, as they discuss AI in factory automation. Register now.
Automated order processing can help distributors work faster, minimize errors from manual data entry, free up workers for more value-added tasks and reduce labor costs, writes Pierce Smith, a senior content marketing manager at Conexiom. Smith points to an order processing solution that can sync data across enterprise resource planning and customer relationship management systems, providing distributors with a holistic view of operations and sales, automating sales order routing, and pulling data from emailed invoices.
European supply chains are starting to reflect the impact of the crisis in the Middle East. Businesses have had to wait longer for parts to arrive this month after attacks from Houthi rebels on cargo ships in the Red Sea disrupted routes. Alternative journeys are more expensive, which could increase inflation throughout Europe and delay interest-rate cuts.
Distributors can drive profit this year with price improvements that determine customers' willingness to pay for products and services, identify gaps in a product's price today versus the future and involve the sales team through a list of targeted opportunities, writes Dan Cakora, a business consultant at Vendavo. Price improvement requires data and data analysis, Cakora writes, noting data analytics is among the most sought-after skills in 2024.
Business-to-business brand ranking within the product category is the strongest indicator for purchase intent and positive brand momentum is a sign of future brand category leadership, according to the Liquid x Avasta Challenger Index. The research highlights the importance of Investing in brand growth and understanding what motivates decision-makers to choose brands are essential to business-to-business marketing.
Corporate mergers and acquisitions slowed dramatically in recent years before a recent uptick, and M&A leaders are expecting the turnaround to gain momentum in 2024, according to Deloitte's 2024 M&A trends survey. More than 80% of survey respondents expect larger deals and anticipate their organization's deal volume will increase this year.
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