US Manufacturing Sector - Productive, but #2

In 2010, the US Manufacturing sector contributed $1.9 trillion to the US economy, growing by 12% over the previous year. The overall US economy at $15 trillion in GDP is by far the largest in the world, dwarfing #2 China at $6 trillion. However, in 2010 China claimed the title of the largest manufacturing economy, displacing the US from that position that it has claimed for the past 110 years. If there is any solace for US manufacturers, it is that they produce roughly the same amount of products with 1/10th of the labor that China does. That high productivity means that US manufacturers are well positioned in industries utilizing automated or high tech processes. Source: IHF Global Insights