September 1, 2016
WASHINGTON—U.S. Council on Competitiveness president and CEO, Deborah L. Wince-Smith comments on the latest numbers from the Institute of Supply Management, indicating economic activity in the manufacturing sector contracted in August. Earlier this year the Council and Deloitte released the 2016 Global Manufacturing Competitiveness Index, which predicts the U.S. will overtake China in manufacturing competitiveness by 2020:
What do the latest numbers tell you about the state of U.S. manufacturing?
“Contrary to what you hear on the campaign trail, U.S. manufacturing is making a comeback. Before this month’s contraction, we had five consecutive months of growth, which showed the U.S. has momentum in the global manufacturing race. The whole manufacturing sector has been retooling itself, heavily investing in research and development, and it’s paying off.”