PHOTO ILLUSTRATION STEPHANIE ANTAL
Though vaccinations began in late 2020, they’ll have a bigger impact this year and will push medical manufacturing and the world toward a new normal. In achieving herd immunity, McKinsey & Co. estimates the U.S could complete inoculations by Q3 or Q4 of 2021.
Analysts from Oxford Economics note that manufacturing remained stable at the end of 2020, with the ISM Manufacturing index rising for seven consecutive months to a new recovery high of 60.7 in December. New production orders signal solid future activity, and inventories rose for a third straight month. Looking ahead, evolving recovery dynamics could cause factory activity growth to slow in 2021. Potential headwinds include the virus’ recent resurgence, slower economic recovery, and ongoing supply chain disruptions.
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