Looking Ahead: Opportunities and Challenges for U.S. Manufacturers
Posted: 21 Nov 2013
Date Written: April 2013
Manufacturing has received increased attention in recent years, as it has enhanced its importance in the economy with output and employment gains and as a driving force of U.S. exports. Nonetheless, the sector faces serious challenges as well as opportunities. The challenges are weak global economic growth, burdensome taxes and regulation, and a labor force that is unprepared to meet twenty-first century needs. Opportunities, however, are likely to more than offset the challenges. These are an improving energy environment, an improved climate for international trade, strong productivity growth, and continued strength in innovation.
Keywords: manufacturing, exports, regulation, labor, energy, productivity
JEL Classification: D24, E23, E62, E66, F1, K23, L16, L50
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