New USBIC Report: U.S. industry losing ground in advanced manufacturing.
A new report by Alan Tonelson of the U.S. Business and Industry Council (USBIC) finds that key U.S. manufacturing sectors are losing ground in their home market to increased imports.
Tonelson says these high-value goods have been touted as a key to the future of the American economy. Unfortunately, and despite "widespread optimism about an American industrial renaissance, domestic manufacturing's highest-value sectors keep falling behind foreign-based rivals."
Tonelson analyzed 106 high-tech and capital-intensive manufacturing sectors from the Census Bureau's Annual Survey of Manufacturers and found that imports accounted for 37.5 percent of the $2 trillion in high-value manufactured goods sold in the United States in 2011, a larger share than 2010.
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