Report shows U.S. manufacturers continue to lag
Sunday, January 13, 2013
American manufacturing is still falling behind its foreign competitors.
The nation's overall trade deficit widened by 16 percent in November as foreign imports of consumer goods outpaced domestic sales. And U.S. industry is losing ground at home to overseas businesses in advanced manufacturing, the making of high-value goods that has been touted as key to the future of the American economy, according to a report from the U.S. Business and Industry Council.
"Contrary to widespread optimism about an American industrial renaissance, domestic manufacturing's highest-value sectors keep falling behind foreign-based rivals," the report's author, Alan Tonelson, wrote.Click here to read the article...