Ned Pelger's blog on construction, design and other weirdness. Email him at ned@constructionknowledge.net
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CONSTRUCTION KNOWLEDGE BLOG
February 15, 2011
US Manufacturing Boom Continues
That’s right, contrary to what we typically read from those nattering nabobs of negativity (hat tip to Spiro Agnew), US continues to lead the world in manufacturing output. The numbers vary, depending on the source, but let’s use the United Nations’ comprehensive database of international economic data. The manufacturing output of America in constant 2005 dollars was $2.15T in 2009, while China was $1.48T. That’s an impressive 45% lead over China. Other sources state different numbers, but all indicate that the US still leads the world in manufacturing output and has since 1890.
Even though China’s manufacturing is growing quickly, America still produced 20% of the world’s manufacturing output in 2009. This amount fell only slightly from 21% in 1990. The fact that American manufacturers are able to continue to produce massive quantities of products while substantially cutting jobs comes from record breaking productivity gains.
This information jives with what I see in my business. I always have at least one manufacturing client planning or building some type of project. I like the manufacturing work because efficiency (one of my favorite things) generally trumps other concerns. If I can help a manufacturing customer plan a great process flow in a production line, I can add some real value. Which means I’ve created some strong customer satisfaction and loyalty. Those two items are the core of a successful small business…or large business.
As I researched this post, I was surprised to find the impressive nature of the US economy. 30% of the world’s millionaires and 40% of the world’s billionaires live in the US. America still breathes opportunity. The net worth gain of American households has been impressive over time.
So as you read the gloom in the press and wonder about the outlook for construction, remember that lots of good things are happening. You just have to dig a little to find them.