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The Manufacturing Institute—the workforce development and education affiliate of the National Association of Manufacturers—has announced the two outstanding manufacturing leaders who will serve as chair and vice chair of the MI’s STEP Ahead Awards.

• Biogen Executive Vice President, Head of Pharmaceutical Operations and Technology Nicole Murphy will serve as chair, and AstraZeneca Senior Vice President and Global Head of Pharmaceutical Technology and Development Dafni Bika will serve as vice chair.

The background: The STEP Ahead Awards honor remarkable women and allies in manufacturing, who are advancing the industry everywhere from the shop floor to the C-suite. Honorees are nominated by their colleagues for their exceptional leadership in their workplaces and communities.

The chair: With more than three decades of experience and leadership in the biopharmaceutical industry, Murphy is an expert in manufacturing operations, engineering, chemistry, manufacturing and controls process development and regulatory, quality and supply chain management.

• She has achieved improvements in safety and quality, optimized production processes and helped ensure a reliable supply of potentially lifesaving medicines for patients around the globe.
• Thanks to her strategic leadership and commitment to mentorship and talent development, Murphy has not only achieved impressive business results but also set up the next generation for further successes.

What she’s saying: “It is a tremendous honor to serve as chair for the STEP Ahead Awards program and to celebrate the remarkable women and allies who are shaping the future of manufacturing,” said Murphy.

• “In today’s ever-evolving and high-paced manufacturing environment, it is critical we recognize women and allies at all levels for their innovative spirit and leadership—they are building the talent pipeline of manufacturing leaders. I look forward to learning from their inspiring stories and recognizing the impact they’re having on manufacturing, technology and society.”

The vice chair: Bika also brings more than 25 years of experience in biopharmaceutical manufacturing, the development and commercialization of new products and digital innovation.

What she’s saying: “I’m honored to be appointed vice chair of the MI’s 2026 STEP Ahead Awards,” said Bika. “This program recognizes the women and allies who are shaping the future of manufacturing with bold creativity and innovation.”

• “I’m deeply committed to advancing and inspiring the next generation in STEM to pursue careers in our industry, and I look forward to celebrating the remarkable leaders who will be honored next year.”

The MI says: “We are so fortunate to have two inspirational leaders—both working at the cutting edge of biopharmaceutical manufacturing—agree to lead and advise on the 2026 STEP Ahead Awards,” said MI President and Executive Director Carolyn Lee.

• “Both Nicole and Dafni embody all that manufacturing has to offer as a career path. They are making these opportunities visible and inspiring a future generation of manufacturing team members.”

Stay tuned: The 2026 awardees will be announced ahead of the STEP Ahead Awards Gala on April 23, 2026, at The Anthem in Washington, D.C.

San Francisco on Tuesday filed a lawsuit against some of the nation’s biggest food and beverage manufacturers, accusing them of creating a public nuisance through deceptive marketing of ultra-processed foods (Reuters, subscription).

What’s going on: “City Attorney David Chiu filed the lawsuit in San Francisco Superior Court, alleging the companies employed tactics similar to those used by the tobacco industry to design and market products intended to addict consumers.”

• Chiu named Coca-Cola, PepsiCo, Kraft Heinz, Mondelez and six other firms in the suit, averring all broke “California laws on public nuisance and deceptive marketing.”
• The suit says that cancer, obesity and diabetes rates have risen in tandem with the proliferation of “ultra-processed” snack foods.
• The city is asking for “restitution and civil penalties to offset” health-care costs, as well as a court order stopping the companies from using “deceptive marketing” and mandating that they change their advertising practices.

However: “The definition of ultra-processed foods remains under debate,” according to the article, and efforts underway by the Department of Agriculture and the Food and Drug Administration to define the term could backfire, as the NAM said in October.

• The push could shift nutrition programs and policies away from food composition and toward subjective opinions about processing methods.

The NAM says: “Allegations of public nuisance against food and beverage manufacturers that fully comply with FDA safety and nutrition standards are an abuse of the legal system,” said NAM Chief Legal Officer and Corporate Secretary Linda Kelly.

• “Frivolous and agenda-driven lawsuits do not improve public health or safety. Instead, they create confusion for consumers and undermine the regulatory certainty manufacturers need to provide safe and nutritious foods that are affordable and accessible for American families.”

NAM in the news: Fox Business covered the NAM’s comments.

In September, the S&P Cotality Case-Shiller U.S. National Home Price NSA Index recorded a 1.3% annual gain, the weakest growth since mid-2023. The 10-City composite saw an annual increase of 2.0% in September, down from 2.1% the previous month, while the 20-City composite rose 1.4% year-over-year, down from 1.6%. Among the 20 cities, Chicago posted the highest annual gain at 5.5%, followed by New York at 5.2% and Boston at 4.1%. Tampa again posted the lowest annual return, with prices falling 4.1%.

On a month-over-month basis, the U.S. National Index declined 0.3% before seasonal adjustment. At the same time, the 10-City and 20-City Composites both fell 0.5%. After seasonal adjustment, the U.S. National Index and 10-City Composite both grew 0.2%, while the 20-City Composite inched up 0.1%.

The combination of high financing costs and prices remaining near record highs continues to limit activity. Before seasonal adjustment, all 20 cities saw price declines in September. The Northeast and Midwest, relying on strong job markets, continue to outperform other regions. Meanwhile, the Sun Belt and Western markets continued declining, including Tampa (down 4.1%), Phoenix (down 2.0%), Dallas (down 1.3%) and Los Angeles (down 1.3%).

Despite strength earlier this year, high mortgage rates have eroded momentum across most regions. Home price gains continue to trail inflation, and the gap is the widest seen since the two measures diverged in June. The housing market appears to have found a new equilibrium of minimal price growth and declines in some regions.

Consumer confidence decreased 6.8 points in November to 88.7, its lowest level since April. Among its components, the Present Situation Index and Expectations Index both declined as consumers’ outlook regarding future business conditions and expectations for increased household incomes worsened notably.

The Present Situation Index, reflecting current business and labor market conditions, decreased 4.3 points to 126.9. Meanwhile, the Expectations Index, which reflects consumers’ short-term outlook for income, business and labor market conditions, fell 8.6 points to 63.2, remaining below the recession signal threshold of 80 since February.

Views of the current labor market situation weakened slightly, with 27.6% of consumers saying jobs were “plentiful,” down from October (28.6%), while 17.9% said jobs were “hard to get,” slightly lower than October (18.3%) but up from 14.5% in January. Looking to the future, 27.5% expect fewer available jobs in the next six months, down from 28.8% the prior month.

Mentions of high prices, inflation, tariffs and trade continued to top the list of topics influencing consumers’ views of the economy. Meanwhile, labor market mentions declined but remained elevated. Comments on U.S. politics continued, with increased mentions of the government shutdown. Consumers’ 12-month inflation expectations increased in November, and the proportion of consumers expecting interest rates to rise ticked down to about 50%. At the same time, the share of consumers who believe a recession is “very likely” over the next year fell, but the share thinking the economy is already in a recession rose for the fourth consecutive month.

Buying plans for cars stepped down in November, as did purchasing plans for homes. Consumers’ plans for buying big-ticket items fell in November, with purchasing plans for household appliances and most electronics decreasing. Consumers’ intentions to purchase more services also declined following an uptick in October; however, planned spending on health care jumped to the second-highest service expenditure. Overall, consumers’ views of their current and future financial situation weakened from October.

The Producer Price Index for final demand (also known as wholesale prices) rose 0.3% over the month in September, after prices edged down 0.1% in August. Over the year, producer prices moved up 2.7% in September, unchanged from August. Meanwhile, prices for final demand excluding foods, energy and trade services increased 0.1% over the month in September after rising 0.3% in August. Prices for these goods advanced 2.9% from September 2024.

Within final demand, prices for services stayed the same in September after decreasing 0.3% in August. Meanwhile, prices for goods jumped 0.9%, the largest increase since February 2024. Within the final demand services index, prices for airline passenger services moved up 4.0%, while margins for machinery and equipment wholesaling fell 3.5%. Within the final demand goods index, prices for final demand energy climbed 3.5%, accounting for two-thirds of the September increase.

Processed goods for intermediate demand stepped up 0.4% in September, following a 0.4% increase in August. More than half of the September advance can be attributed to an 11.8% jump in the gasoline index. On the other hand, the index for industrial electric power declined 2.0%. Over the year, the index rose 3.8%, the largest 12-month increase since January 2023.

Meanwhile, prices for unprocessed goods for intermediate demand inched up 0.1% in September, after falling 1.8% in August. The small growth was led by a 1.9% increase in unprocessed foodstuffs and feedstuffs. At the same time, prices for unprocessed energy materials declined 3.0%. Over the year, prices for unprocessed goods for intermediate demand rose 3.5%, the largest 12-month gain since the 6.5% rise in March.

In November, Texas factory activity expanded and at a notably faster pace than the prior month. The production index increased from 5.2 to 20.5, jumping above the average of 9.6. The new orders and capacity utilization indexes turned positive, rising 6.5 points to 4.8 and 20.5 points to 19.4, respectively. Meanwhile, shipments climbed 9.3 points to 15.1.

Despite the improvement of nearly every indicator in November, perceptions of manufacturing business conditions worsened, with the general business activity index falling 5.4 points to -10.4. Meanwhile, the outlook decreased 6.0 points to -6.3. On the other hand, the uncertainty index declined 6.5 points to 15.7, falling just below the series average of 17.2.

Labor market indicators suggest a slight reduction in headcounts but a dramatic rise in the workweek in November, with the employment index inching down 0.8 points to 1.2 and the hours worked index soaring 15.4 points to 9.9. Nearly 17.1% of firms reported net hiring while a smaller percentage (15.9%) noted net layoffs.

Price and wage pressures accelerated somewhat in November. The prices paid for raw materials index moved up 1.9 points to 35.3. Meanwhile, the prices received for finished goods index increased 3.1 points to 10.8. The wages and benefits index rose 1.2 points to 15.4, staying below the series average of 21.

The outlook for future manufacturing activity strengthened in November, with the future production index jumping 12.7 points to 33.7. Furthermore, the future general business activity index and future company outlook both moved up, increasing to 11.0 and 16.2, respectively.

Manufacturing activity in the Fifth District declined in November and at a faster pace than the previous month, with the composite manufacturing index falling from -4 to -15. Meanwhile, the local business conditions index plummeted from -1 in October to -20 in November. Despite current weakness, manufacturers are more optimistic about the future, with the outlook for future local business conditions turning positive, rising from -5 in October to 1 in November. The Fifth District consists of Virginia, Maryland, the Carolinas, the District of Columbia and most of West Virginia.

Among its components, shipments fell back into negative territory, plunging from 4 to -14. New orders remained negative and contracted at a faster pace, dropping from -6 to -22 in November. Employment improved slightly, ticking up from -10 to -7, and the vendor lead time index rose from 6 to 12. Meanwhile, the share of firms reporting backlogs worsened, sinking from -16 to -23. The average growth rate of prices paid and prices received both quickened in November.

Looking ahead, firms expect both price indexes to increase in the next 12 months, with prices paid rising at a faster rate and prices received at a slower rate than forecasted in October. Expectations for future shipments jumped from 13 to 25, while new orders increased from 12 to 26. Expectations for backlogs moved up from -12 to 3. Meanwhile, firms’ expectations about equipment and software spending remained negative but improved from -6 to -4. On the other hand, expectations for capital expenditures worsened, falling from 1 to -8. In sum, businesses in the Fifth District are more optimistic about future business conditions while remaining pessimistic about future investment plans.

Existing home sales increased 1.2% in October and 1.7% over the year. Housing inventory moved down to 1.52 million units, reflecting a 0.7% drop from September but a 10.9% jump from last year. The median existing home price was $415,200, up 2.1% from last year. The Midwest and South posted monthly increases in existing home sales, while the Northeast saw no change, and the West registered a decline in October.

Single-family home sales rose 0.8% from September and 1.9% from October 2024, with the median price increasing 2.2% from last year to $420,600. Condo and co-op sales increased 5.4% over the month but stayed the same over the year at 390,000 units in October. Meanwhile, the median price for condos and co-ops inched up 0.9% from the prior year to $363,700.

Homes were typically on the market for 34 days in October, up from 33 days in September and 29 days in October 2024. First-time buyers made up 32% of sales in October, up from 30% in September and 27% in October 2024.

The S&P Global Flash U.S. Manufacturing PMI fell from 52.5 to 51.9 in November, a four-month low, but remained positive. This continues the trend in business conditions with 10 of the past 11 months signaling growth. Factory production and new order growth both decreased in November, with new orders driving the weakening in the PMI. Meanwhile, export orders declined for the fifth consecutive month, increasing downside risks to production in December.

Inventories continued to grow in November as the stock of finished goods rose to the highest level in survey history. At the same time, supplier delivery times lengthened for a third consecutive month, with respondents linking the increase to tariff-related supply constraints. Manufacturers’ input cost inflation declined to the lowest level since February but continued to remain high by historical norms. Meanwhile, selling prices for goods grew in November but stayed below rates seen in recent months. Overall, price increases slowed for manufacturers but accelerated for the service industry.

Overall business activity climbed to a four-month high, edging up from 54.6 in October to 54.8 in November. Again, this reading was accompanied by the largest rise in new business seen in 2025, led by the services sector and an increase in manufacturing output. Overall, new orders growth was the largest seen since December 2024 alongside a buildup of unsold stock. Employment rose for the 11th time in the past 12 months; however, companies showed a reluctance to take on staff as the rate of job creation continues to slow.

Meanwhile, optimism about future business conditions jumped in November to its highest level this year. The optimism reflects reduced concerns about tariffs and political disruptions, boosted by the end of the government shutdown. In addition, companies are hopeful for greater policy support, including lower interest rates and government fiscal stimulus.

New orders for manufactured goods increased 1.4% in August, following a 1.3% decline in July. Meanwhile, new orders for manufactured goods grew 3.3% over the year. When excluding transportation, new orders inched up 0.1% over the month and 0.6 year-over-year in August. Orders for durable goods rose 2.9%, following a 2.8% drop in July. Year to date, durable goods orders are up 7.0%. Nondurable goods orders edged down 0.1% in August after increasing 0.3% in July. Nondurable goods orders are down 0.2% over the year.

New orders for defense aircraft and parts, which continue to be volatile this year, led the increase in durable goods orders, surging 48.4%, following July’s 0.6% bump. In August, the largest monthly decrease occurred in material handling equipment, which fell 5.7% after rising 2.6% the prior month. The largest over-the-year changes occurred in nondefense aircraft and parts (up 129.2%) and mining, oil field and gas field machinery (down 5.3%).

Factory shipments declined 0.1% in August, after stepping up 0.9% in July. Shipments over the year rose 1.1%. Shipments excluding transportation inched down 0.1% in August, following a 0.5% gain the previous month. Shipments for durable goods fell 0.2% in August, following a 1.5% increase in July, and are up 2.5% year to date. Meanwhile, nondurable goods shipments decreased 0.1% after rising 0.3% the prior month and are down 0.2% year to date.

Unfilled orders for all manufacturing industries increased 0.6% in August, after remaining flat in July. Unfilled orders over the year jumped 7.7%. Inventories rose 1.4% year-over-year. The inventories-to-shipments ratio remained unchanged at 1.56 in August. The unfilled orders-to-shipments ratio for durable goods moved up to 6.93 in August from 6.86 in July.