In The Great Gatsby, the central character is captivated by a green navigational beacon off in the distance that gives him eternal hope. Although Jay Gatsby wasn’t thinking about assembly lines, manufacturing has a similar green light and assemblers are equally optimistic these days.
Since the Great Recession ended several years ago, manufacturing output has increased 6 percent—double overall growth during the same period. Among other factors, the recent boom in domestic oil and gas production is having a dramatic impact on U.S. manufacturers. The “shale gale” is making it cheaper to produce goods domestically, due to favorable energy and raw material prices.