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US manufacturers to narrow gap with China


New evidence is showing that the United States could be starting to claw back ground from China and the rest of the world in the export of manufactured goods.

The Wall Street Journal reports that a paper to be released on Tuesday in the US, by international management consulting firm the Boston Consulting Group, provides evidence that the manufacturing exports will increase, helped by the much-publicised shale gas boom and stagnating wages.

"This is a fundamental economic shift," Harold Sorkin from BCG said, according to the Wall Street Journal.

"The trends are going faster than we thought... As much as people say we don't make anything anymore, it's just not true."

The report suggests that between 2.5 and 5 million factory and service jobs will be created in the US up to 2020, following increased output.

Ernest Preeg from the privately-funded research group Manufacturers Alliance for Productivity and Innovation told the Journal that the deficit on the trade manufactured goods was on the way down, too.

His data showed that the first six months had shown a decline in the figure from $227 billion from $225 billion in the corresponding period.

"It's a hopeful sign," said Preeg. "At least we've leveled off."

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