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U.S. Manufacturing

May 18, 2015

U.S. Manufacturing is the tenth largest economy in the world. In the year 2012, the manufacturing output was increased to more than 83% and a total revenue of $2.03 trillion was generated. When measured based on the GDP (gross domestic product), U.S. is far ahead of China which is in the second place. Countries such as Japan and Germany showed little growth as compared to U.S., where as countries such as Brazil, India and Mexico are showing rapid growth. Although the competitions are heavy, the U.S. manufactures still account for a larger volume of production as compared to Russia, Canada, Korea or India.

The size of the companies in the manufacturing sector is measured based on the following – firm size and plant size. The U.S. has about 254,941 firms in the manufacturing sector and about 295,643 plants. Individual firms can have multiple plants. Although there was a decline in the number of jobs in the manufacturing sector in the U.S., 2010 was a good start where the manufacturing sector generated 600,000 jobs.

Only locally manufactured goods are used in the U.S. economy where the manufactured goods and services are used as intermediate materials and the customers, business, government and exports purchase the final output.

Manufacturing industries such as a chemical manufacturing, manufacturing of computers and electronic products, food, beverages, and tobacco; and petroleum and coal products account for about 50% of manufacturing GDP. In the last several years there has been a steady and strong growth in the use of chemical products. This is mainly due to the availability of low-cost energy in the U.S. and the renaissance in U.S. manufacturing. The manufacturing sector has extensively increased the standard of living of the U.S. consumers. The capital and the technology have been used intensively by the U.S. manufacturing sector and this is why it is called as the productivity powerhouse of the nation.

American Castings & Manufacturing Corp. is proud to contribute to the U.S. economy by manufacturing quality security seals in the United States.

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