32 straight months of expansion may very well be the warning signal to foreign manufacturers that the United States has begun a “manufacturing renaissance”, at least according to a recent article in the Wall Street Journal.
One factor cited: a narrowing of the gap in U.S. and foreign wages. While emerging markets are still paid less than U.S., those wages are rising. Match that up with higher oil prices making shipping more expensive, and the ability of U.S. manufacturers to provide goods at competitive prices begins to increase.
And don’t forget the importance of U.S. consumers in helping manufacturers pick up the pace; it is their increasing confidence and growing demand for products that has helped spur the economy at home. Consumer spending in February in the U.S. grew at its fastest pace since July and some analysts now predict a return to more robust spending by American consumers. More spending equals more demand for manufactured goods like cars and other large purchases.
American Manufacturers are pleased to see the signs that growth is returning to our industry, allowing companies like KASO Plastics to provide our full service injection mold and injection mold engineering services to companies increasingly seeing demand for their products in the automotive,consumer electronics and medical industries.