U.S. manufacturers still tops in the worldThough all the talk in the media these days is seemingly centered on the might of the Chinese economy, many analysts are overlooking some key figures in manufacturing statistics, according to CBS News.

Yes, it is true that many U.S. manufacturing facilities closed during the recession, and that Chinese goods are without question cheaper to produce than their American counterparts; however, America by far remains the number one manufacturing country in the world - by a wide margin, outproducing China by more than 40 percent.

In 2009, U.S. manufacturers produced $1.7 trillion worth of goods, and that was at a time when the sector was still reeling from one of the steepest contractions in economic activity in the nation's history. U.S. manufacturers have succeeded where other countries have often failed: They generate more goods using fewer people, placing at or near the top of world rankings in productivity gains over the last three decades.

That increased efficiency translates into a leaner manufacturing force with higher productivity rates. "You can add more capability, but it doesn't mean you necessarily have to hire hundreds of people," James Vitak, a spokesman for specialty chemical maker Ashland Inc., told CBS News.

Now, as the U.S. economy expands - led in many ways by domestic manufacturers - the manufacturing sector could be poised to truly break out, adding 136,000 net workers in 2010. Manufacturers now heavily focus on products with high profit margins, eliminating goods like consumer electronics, toys and shoes, and increasing production of specialized computer chips, fighter jets and health care products.

In 2011, U.S. manufacturers hope to dispel the "common misperception" that all goods are made in China, Thomas Hook, the chief executive of medical goods manufacturer Greatbatch, affirmed. 
Share To:

Strategic Sourceror

Post A Comment:

0 comments so far,add yours