Manufacturing is pulled into political rhetoric, and the truth is hard to discern. The MAPI Foundation wants to separate fact from fiction and provide economically-based information on manufacturing in America.
The MAPI Foundation wants to set the record straight. U.S. Manufacturing is a vibrant industry.
The narrow definition of manufacturing industries in national statistics implies that the sector is of only minor importance to economic activity. However, when you factor in manufacturing activities such as R&D, corporate management, and logistics operations, you find that is simply not true.
The manufacturing sector’s superior productivity growth is persistent over time, creating a large productivity gap between manufacturing and other sectors of the economy. The sector is efficient in delivering value-added—it takes about 5.8 full-time equivalent (FTE) manufacturing jobs to achieve $1 million in value-added, compared with 7.7 FTE jobs for both transportation and services and 16.9 for retail trade. Without manufacturing, our standard of living would stagnate.
The United States produces the most goods and services in the world.U.S. manufacturing rebounded from the recession faster than the rest of the economy. The sector is highly profitable and continues to expand. And U.S. industrial wares remain globally competitive, as rising inbound foreign investment testifies.