U.S. Manufacturing Becoming More Competitive
Manufacturing in the U.S. is set to rebound in the coming years, with the country expected to become the world’s most competitive manufacturing nation by 2020. The 2016 Global Manufacturing Competitiveness Index report, from Deloitte LLP and the Council on Competitiveness, draws its conclusion from a survey of 500 CEOs and senior leaders at manufacturing companies around the world.
“‘Made in the USA’ is making a big comeback,” says Deborah L. Wince-Smith, president and CEO of the Council on Competitiveness. “Contrary to the view that manufacturing is dirty, dumb, dangerous and disappearing, our study points to a manufacturing future characterized by innovation-driven growth. Manufacturing is sustainable, smart, safe and surging—and America will lead the world in this transformation.”
The U.S. ranked fourth in the survey in 2010. Its path to the No. 1 spot has been fueled by heavy investment in talent and technology. The survey ranks the U.S. highest as an advanced manufacturing economy with a greater share of high skill and technology in exports compared to labor productivity measurements as gross domestic product (GDP). It is also the global leader in research and development.
“The U.S. is currently among the top nations unlocking advanced manufacturing technologies including smart, connected products and factories, predictive analytics and advanced materials that are core to future competitiveness,” says Craig Giffi, vice chairman, Deloitte LLP and U.S. automotive sector leader. “The U.S. continues to emphasize the connection between people, resources, policies and organizations to form a cohesive ecosystem of innovation while investing in research and development.”
Click here for more information about the 2016 Global Manufacturing Competitiveness Index.