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Annual Manufacturing Review

Published

Author(s)

Douglas Thomas, Anand M. Kandaswamy

Abstract

This report provides an overview of the US manufacturing industry. There are three aspects of U.S. manufacturing that are considered: (1) how the US industry compares to other countries, (2) the trends in the domestic industry, and (3) the industry trends compared to other country's trends. According to the 2013 Annual Survey of Manufactures (ASM), the US manufacturing sector produced $2.4 trillion in value added in 2014, up 4.2 % from $2.3 trillion in 2013. Value added in machinery manufacturing (North American Industry Classification System code (NAICS) 333), computer and electronic product manufacturing (NAICS 334), electrical equipment (NAICS 335), and transportation equipment (NAICS 336) grew 1.1 %, 10.0 %, 0.0 %, and 6.1 %, respectively. According to data from the United Nations Statistics Division, US compound annual real (controlling for inflation) growth between 1988 and 2013 was 2.2 %. This puts the US in the 52nd percentile of all countries. This growth exceeded that of Germany, France, Canada, Japan, and Australia; however, it is slower than the global average and that of many emerging economies. The size of the US manufacturing industry, as measured in value added, remains the largest of all countries. Among the ten largest manufacturing countries, the US has the 4th largest manufacturing value added per capita.
Citation
Technical Note (NIST TN) - 1901
Report Number
1901

Citation

Thomas, D. and Kandaswamy, A. (2015), Annual Manufacturing Review, Technical Note (NIST TN), National Institute of Standards and Technology, Gaithersburg, MD, [online], https://doi.org/10.6028/NIST.TN.1901 (Accessed June 24, 2024)

Issues

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Created December 14, 2015, Updated June 24, 2021