FABTECH, the largest metal forming, fabricating, welding and finishing event in North America, has provided a ‘State of the Industry’ post which states how manufacturing in the US has successfully adapted to changes in customer needs and shifts in the competitor landscapes, while still focusing on profit margins and revenue growth.
The post explains that production in the US is estimated to grow 2.8% from 2018-2021 (a faster increase than other segments of the general economy), and that manufacturing continues to have an outsized influence on regional economies. According to the US Bureau of Economic Analysis, manufacturing generates $1.40 in economic activity for every dollar put in.
At a session on the state of the industry at FABTECH 2017, the panel concurred that, barring any unforeseen developments, manufacturing will continue to be a healthy industry moving forward. The panellists also agreed that the United States’ “competitive position is improving in a global manufacturing market in the midst of a digital revolution.”
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