Aug 15, 2017
U.S. manufacturing has been experiencing growth this summer in terms of orders, jobs and growth in the sector itself. And, since manufacturing accounts for around 12% of the U.S. economy, this is pretty good news.
June manufacturing technology orders climbed 6.5% over May, according to a report just released by The Association for Manufacturing Technology (AMT). And June was also the fifth consecutive month manufacturing technology orders posted a year-over-year gain of over 10%.
Meanwhile, according to a survey of the nation’s supply executives surveyed in the latest Manufacturing ISM® Report On Business®, economic activity in the manufacturing sector expanded this July, with the overall economy growing for the 98th consecutive month. Fifteen out of 18 industries reported growth in July.
How Different Industries Are Doing
Here’s what some of those surveyed said about the growth they’re experiencing in their industries:
U.S. Manufacturing Sector a Major Job Source
Since last year, the number of manufacturing jobs created by U.S. companies moving jobs back to America has been on the rise as well, exceeding the number of jobs lost by companies moving overseas.
When it comes to employment, the manufacturing sector may just be the most important one in the U.S. The sector is a top provider of good jobs for workers without college degrees. In addition to employing millions directly, the sector also supports millions of indirect jobs, right here in the U.S.
Manufacturing also creates a substantial source of demand for goods and services in other sectors, which helps strengthen our economy.
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