The State of Food Manufacturing 2000: Once Again the Industry Restructures
Profits slide. Megamergers hope to offset retailer clout. Internet exchanges set up shop. Plants automate, integrate and tackle food safety.
In February, the U.S. economy reached the longest sustained period of economic growth in history. According to the Bureau of Economic Analysis (BEA), Gross Domestic Product surged 4.2 percent in 1999 over 1998 after a 4.3 percent gain a year earlier.
But the ten-year economic boom continues to be fueled by financial services and big-ticket durable goods such as homes, automobiles and appliances, not by consumable products such as food, chemicals and petrochemicals. Hence, the food-manufacturing scenario reveals a mixed bag.