Current State of Manufacturing in the United States
Manufacturing is experiencing a boom period in the United States. Republican candidate put up a spirited campaign promising to restore the country’s manufacturing industry, and it earned the presidency of the United States. Indeed, since Trump’s inauguration as president, markets have performed highly. According to Badkar (1), Wall Street saw a new record as the Dow Jones Industrial Average went past the 25000 mark on the 4th of January 2018. Thompson (1) observes that manufacturing confidence is “higher than ever”, with the rate of unemployment falling to nearly an all-time low. The output from the manufacturing sector has continued to rise. For example, an average worker in a factory in the US has an output of about $180,000 worth of goods annually, a figure that is three times more than what the worker produced in 1978 (Semuels 1).
Data from the Institute of Supply Management indicates that the manufacturing sector saw expanded economic activity during the month of February in 2018, with 25 of the 18 manufacturing industries sampled reporting growth (ISM 1). These include machinery, plastic and rubber products, textile mills, fabricated metal products, and computer and electronic products among others. This was reflected in an increase in the number of new orders, a rise in production, a growth in employment, rising inventories of raw materials, low customer inventories, an…
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