The U.S. manufacturing sector--a big country of its own
According to data released last week by the Bureau of Economic Analysis on U.S. GDP by industry in 2012, if America's manufacturing sector were counted as a separate economy, it would rank as the 10th-largest national economy in the world.
Manufacturing's $1.866 trillion output in 2012 was just slightly below the $2.1 trillion in GDP for the entire economy of Italy, and ahead of the entire national output in India ($1.82 trillion) and Canada ($1.81 trillion).
America's total GDP in 2012 was $15.68 trillion, which means manufacturing represents roughly 12% of the nation's entire economy.
Simply put, manufacturing matters...a lot.
The Alliance for American Manufacturing (AAM) has put forward a blueprint of key actions needed to ramp up U.S. manufacturing, including proposals for tax reform, infrastructure investment, and more vocational training. Read more.
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