Manufacturing facts: Industry's share within countries declines


This week's excerpt from The Facts About Modern Manufacturing: The share of an economy's value-added that is generated by manufacturing has been on the decline in the developed world for decades. In a nutshell, consumers increasingly demand services and producers make the necessary accommodations. But manufacturing in the United States plays a significantly reduced role in the economy relative to most of its industrial trading partners. Today, Germany's and Japan's manufacturing output relative to GDP stands some 7-8 percentage points higher than the American equivalent. Manufacturing Facts

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