We’re hearing a lot of positive news lately regarding the U.S. manufacturing sector and the economy, in general. It seems as if manufacturing is making a welcome comeback here – slowly, but surely – and a similar recovery trend is happening in other countries around the world. A recent report said, “American producers are leading a global manufacturing recovery that stretches from China to Europe as their economies improve.”
There are several indicators pointing in a positive direction right now:
- Auto industry stocks are rising, with automakers scrambling to meet increasing demand.
- Construction spending hit a four-year high. New home construction continues to rise, and, eventually, this will have a trickle-down effect and boost other industries, such as the appliances and furniture industries, etc.
- Factory output increased over the summer, and continued to pick up last month. Most manufacturers are busier now than they’ve been for several years.
Other trends positively impacting U.S. manufacturing today include “onshoring” (or “reshoring”) and the increased access to manufacturing-related education and training.
The onshoring trend we’re seeing now reflects the fact that more companies are setting up or moving manufacturing operations to the U.S. after they’ve realized that manufacturing overseas is costly and can be unreliable when it comes to quality control. The education/training trend is driven by the fact that more manufacturing jobs are open or they’re being created. Therefore, more people are seeking the training and education they need to fill those jobs. Specific manufacturing-related skills training and education (including welding training) are in demand, and welding education programs are being added to the curriculum of schools and colleges across the country.
Right now, any way you look at manufacturing and the economy, you’ll see positive signs. In a recent USA Today article, one market strategist says, “Overall, the direction of manufacturing continues to be positive.” We share this optimism, and patiently look forward to the upward trend in U.S. manufacturing continuing in the months and years ahead!