On the first Friday in October, Manufacturing Day is celebrated. This celebration of modern manufacturing is meant to inspire the next generation of workers to come into the industry. Manufacturing has come a long way, and continues to make new and exciting advancements. To celebrate, here are some facts about America’s manufacturing industry:
While rumors that manufacturing is a dying industry, the numbers seem to show otherwise. Since 1947, output has increased more than five-fold. It has grown from $410 billion to $2.09 trillion (with adjusted inflation) over 67 years.
If the U.S. manufacturing industry was considered a separate country, it would have ranked as the 9th largest economy in the world in 2014 with its output of $2.09 trillion. That’s ahead of India’s entire economic output. This puts into perspective just how large and important the industry continues to be.
In terms of manufacturing output, the U.S. ranks pretty high up as well when compared to other countries’ output. In 2013, the U.S. ($2.03 trillion) produced almost as much as Germany, South Korea, France, Russia, Brazil and the UK ($2.14 trillion) put together.
The manufacturing industry may change and adapt as the nation changes, but it is still going strong. It’s a large part of the U.S. economy and especially in the New England region. Celebrating Manufacturing Day is one way to encourage young workers to join the industry.