According to the latest recently released edition of County Business Patterns, in 2020 there were 379 establishments in NAICS 323117 (Book Printing). This represents a 29% decline since 2010. In macro news, highlights from the Federal Reserve’s latest ‘Beige Book’.
The latest edition of County Business Models was recently released, which includes 2020 data. At the start of 2020, there were 379 establishments in NAICS 323117 (Book Printing). This represents a decrease of 29% since 2010. You can see that book printing establishments have had their ups and downs throughout the decade, with the ups and downs in this category of business reflecting the old history of consolidation as well as the results of store diversification and specialization. . Today’s equipment (production inkjet in particular) can produce a variety of print products, so stores don’t have to stick to a particular niche like they used to. previously. Thus, a certain amount of “book printers” may not consider themselves solely as book printers, and therefore classify themselves as general commercial printers or another business category that better describes what they do. It also goes the other way: books have remained an ever-popular print product, and as book production shifts to the digital on-demand variety, this may be an important niche to pursue on its own. Books also lend themselves to more dedicated workflows (highly integrated text printing, cover printing, binding, shipping), so it often makes sense to dedicate production solely to books, especially if the volume is there.
Unlike the other categories of printing, book printing is not as concentrated at the lower end of the spectrum of the number of employees. Small shops (1-9 employees) still make up the bulk of the book printing industry, but represent only 58% of all establishments. The largest stores represent almost a quarter (22%) of establishments in the industry and medium-sized stores represent 21% of establishments.
These figures are based on data from the Census Bureau’s County Business Models. Throughout this year, we will update these data series with the latest CCP The figures. County Business Models includes other data, such as number of employees, payroll, etc. These figures are broken down by classification of commercial printing companies (according to NAICS, the North American Industry Classification System). Next:
- 32312 (Print support activities, i.e. prepress and postpress services)
This data and overall year-over-year trends, like other demographic data, can be used not only for business planning and forecasting, but also for allocating sales and marketing resources.
Come to our census: To clarify what is included in CBP’s establishment count in 2020, the Census Bureau gave us this response:
The number of establishments represents the number of locations with paid employees at any time of the year.…
Thus, if a business establishment was open at any time during the year, it would be included in CBP’s count of the number of establishments for CBP 2020. In theory, if a commercial establishment was open in January 2020 but closed due of a number of factors (including COVID-19) during the year, it would have been included in the establishment count for CBP 2020.
Thank you, Census Bureau!
This week, the Federal Reserve released its latest “Beige Book” (aka “Summary of Commentary on Current Economic Conditions”), which is published eight times a year. The Beige Book compiles more or less anecdotal information about economic conditions in each of the 12 Federal Reserve Districts. Non-quantitative, it is based on conversations with bank and branch managers and interviews with key business contacts, economists, market experts and others. It is published as a prelude to meetings of the Federal Open Market Committee.
You can read the whole thing here, especially reports from your Fed district, but here are some selected comments. Note that it is based on information compiled before August 29, 2022.
Overall economic activity
Economic activity has remained broadly unchanged since early July, with five districts registering mild to modest growth in activity and five others registering a mild to modest slowdown. Most districts reported stable consumer spending as households continued to cut back on trade and shift spending from discretionary goods to food and other essentials. Auto sales remained subdued in most districts, reflecting tight inventory and high prices. Contacts in the hospitality and tourism industry highlighted strong overall leisure travel activity, with some reporting an increase in business and group travel. Manufacturing activity has increased in several districts, although there are reports of a drop in production as supply chain disruptions and labor shortages continue to hamper production.
The main point of weakness was real estate and related activities. As for prices:
Price levels remained very high, but nine districts reported some moderation in their rate of increase. Substantial price increases were reported in all districts, particularly for food, rent, utilities and hospitality services. While manufacturing and construction input costs remained high, lower fuel prices and cooling aggregate demand eased cost pressures, particularly freight rates. Several districts reported lower steel, timber and copper prices. Most contacts expected price pressures to persist at least through the end of the year.