After more than a decade of losing ground to China and other export powerhouses, U.S. manufacturers are finally showing signs of regaining their competitive edge. This article from The Wall Street Journal points out the recent improvements in the U.S. trade deficit and the Boston Consulting Group’s (BCG) forecast for further trade-deficit improvements due to a surge in U.S. exports. BCG says rising exports and “reshoring” of production to the U.S. from China could create 2.5 million to 5 million American factory and service jobs associated with increased manufacturing by 2020 that could reduce the unemployment rate by as much as two to three percentage points.
U.S. Manufacturers Gain Ground
Posted in News