Assembly Lines: Manufacturing Is Bright for U.S. Firms
Jeff Thredgold, president of Thredgold Economic Associates in Salt Lake City, told 175 attendees during the Industrial Asset Management Council (IAMC) Professional Forum that "the worst times are behind us," and 2003 is shaping up as a very positive year for U.S. industrial firms. One reason manufacturers should fare better in 2003 is that they became leaner and more efficient in 2002.
Thredgold noted that manufacturing, construction and mining accounted for 25 percent of the U.S. economy in 1960, 1970, 1980 and 1990, and still accounts for 25 percent of the economy. The only difference today is that it takes fewer workers to do these jobs. As a result, productivity rose 4.6 percent in the last 12 months. This is the strongest growth in 26 years.