Manufacturing sees significant turnaround
The manufacturing sector has seen a sharp turnaround over the past year and is now one of the primary drivers of economic growth.
President Donald Trump has specifically addressed the plight of the manufacturing sector many times since first launching his campaign. His working-class-focused agenda sought to save traditional industries that have suffered in recent years. The National Association of Manufacturers (NAM) notes things have begun turning around.
The Bureau of Economic Analysis (BEA) released a report Thursday which found that durable goods manufacturing was one of the leading contributors to economic growth in the fourth quarter of 2017. The report found that output jumped 5.3 percent for manufacturers during that time.
“Just going back a year and a half or so, manufacturing was really struggling,” NAM chief economist Chad Moutray told InsideSources. “There was a lot of global headwinds and economic uncertainty in general. 2015 and 2016 were not that fabulous of years in terms of employment growth or even in terms of output growth.”