In Manufacturing, U.S. Ranks High in Productivity and Innovation

14 Jul by admin

In Manufacturing, U.S. Ranks High in Productivity and Innovation

The United States ranks near the top for overall manufacturing environment in a new Brookings Institution report that evaluated nations on the basis of policies and regulations, taxes, costs, workforce quality and infrastructure and innovation. American manufacturing drives 35 percent of productivity growth, 60 percent of exports, and 70 percent of private sector R&D nationwide, the study found. Manufacturers contribute $2.17 trillion to the United States economy, which is nearly 12.1 percent of the U.S. GDP.

The U.S. ranked third, edged out by the United Kingdom (#2) and Switzerland (#1) in Brookings’ 2018 Global Manufacturing Scorecard, released on Wednesday.

Read the full article in Industry Week.