“The manufacturing sector is on a tear,” one economist recently
For the first time in many years, it’s manufacturing that is
being relied upon to lead the economy out of recession. A recent article in
JounalNow.com reported, “American factories are humming and driving the economy
Another economist said, “After losing six million manufacturing
jobs between 2001 and 2009, the American manufacturing sector has re-emerged as
a beacon in an otherwise lackluster economic recovery.”
No one thinks manufacturing will return to its peak of the
1950s, but since the recession began improving a little over two years ago,
factories have been contributing disproportionately to the recovery in hiring
and the overall economy.
This manufacturing resurgence trend is very good news for the
automotive aftermarket industry, all industries and all Americans.
Manufacturing in the U.S. produces $1.8 trillion of value each year, or 12.2
percent, of our GDP. Manufacturing employs 12 million Americans.
And just this morning, I read about recent studies that found
approximately 40 percent of U.S. manufacturing firms are considering moving
their manufacturing plants back to America. Clearly, re-shoring is an
encouraging trend that will impact manufacturing’s role in driving economic