USA:'Five Clear Warning Signs' Point to Lower Economic Growth, Living Standards
Washington, DC — Downward trends in U.S. manufacturing innovation pose a serious threat to America's long-term economic growth and living standards, according to a new report released today by the Council of Manufacturing Associations (CMA) and The Manufacturing Institute of the National Association of Manufacturers (NAM).
“The manufacturing economy generates a large share of American prosperity,” said NAM president John Engler. “America’s continuing leadership in innovation and the production of high-value manufactured goods is essential to our nation’s long-term economic growth, productivity gains and standard of living. By itself, U.S. manufacturing would be the eighth largest economy in the world, and our nation's manufacturing output is at an all-time high. But America’s economic leadership will be at risk if current trends continue.”
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