美國制造業(yè)經(jīng)濟(jì)2024年度報(bào)告-2024-12-宏觀大勢(shì)

NISTAdvancedManufacturingSeries600-16

AnnualReportontheU.S.

ManufacturingEconomy:2024

DouglasThomas

Thispublicationisavailablefreeofchargefrom:

/10.6028/NIST.AMS.600-16

NISTAdvancedManufacturingSeries600-16

AnnualReportontheU.S.ManufacturingEconomy:2024

DouglasThomasAppliedEconomicsOfficeEngineeringLaboratory

Thispublicationisavailablefreeofchargefrom:

/10.6028/NIST.AMS.600-16

October2024

U.S.DepartmentofCommerce

GinaM.Raimondo,Secretary

NationalInstituteofStandardsandTechnology

LaurieE.Locascio,NISTDirectorandUnderSecretaryofCommerceforStandardsandTechnology

AMS600-16October2024

Certaincommercialequipment,instruments,software,ormaterials,commercialornon-commercial,areidentifiedin

thispaperinordertospecifytheexperimentalprocedureadequately.Suchidentificationdoesnotimply

recommendationorendorsementofanyproductorservicebyNIST,nordoesitimplythatthematerialsorequipmentidentifiedarenecessarilythebestavailableforthepurpose.

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Copyright,Use,andLicensingStatements

NISTTechnicalSeriesPublicationIdentifierSyntax

PublicationHistory

ApprovedbytheNISTEditorialReviewBoardonOctober23,2024

HowtoCitethisNISTTechnicalSeriesPublication

Thomas,Douglas.2024.AnnualReportontheU.S.ManufacturingEconomy:2024.(NationalInstituteofStandardsandTechnology,Gaithersburg,MD),NISTAdvancedManufacturingSeries600-16.

/10.6028/NIST.AMS.600-16

NISTAuthorORCIDiDs

DouglasThomas:0000-0002-8600-4795

AMS600-16October2024

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Abstract

ThisreportprovidesastatisticalreviewoftheU.S.manufacturingindustry.Therearethree

aspectsofU.S.manufacturingthatareconsidered:(1)howtheU.S.industrycomparestoothercountries,(2)thetrendsinthedomesticindustry,and(3)theindustrytrendscomparedtothoseinothercountries.

Keywords

manufacturing;economy;supplychain;valueadded;statistics

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TableofContents

Preface iv

Acronyms iv

ExecutiveSummary 1

1.Introduction 3

1.1.

1.2.purposeofthisReport……………4

1.3.scgpeandAoroach………………6

2.ValueAdded 9

2.1.Intemationalcomparison…………………9

2.2.DomesticDelalls…14

3.USManufacturingSupplyChain 22

4.Employment,Compensation,Profits,andProductivity 30

5.Research,Innovation,andFactorsforDoingBusiness 40

6.Discussion 51

References 53

AppendixA.U.S.SemiconductorManufacturing 57

AppendixB.AdditiveManufacturing 61

ListofTables

Table3.1:SupplyChainEntitiesandContributions,AnnualSurveyofManufactures,2021 22

Table3.2:DirectandIndirectManufacturingValueAdded,2022($Billion) 24

Table3.3:ImportedIntermediateManufacturing($millions) 25

Table3.4:PercentofU.S.ManufacturingIndustrySupplyChain,byCountryofOrigin(2014) 26

Table3.5:DepreciableAssetsandtheRateofChange,2017($million2017) 26

Table3.6:DomesticU.S.ManufacturingSupplyChain,2022ValueAdded 27

Table3.7:2022DomesticSupplyChainEntitiesforDiscreteHigh-TechManufacturing(NAICS

333-336),ValueAdded(VA)($Billion) 28

Table3.8:2022DomesticSupplyChainEntitiesforProcessManufacturing(NAICS331,324-

325),ValueAdded(VA)($Billion) 29

Table4.1:Employment,AnnualSurveyofManufactures 30

Table4.2:EmploymentbyIndustry,byOccupation(2023):CurrentPopulationSurvey 31

Table4.3:ManufacturingEmployment(Thousands):CurrentEmploymentStatistics 32

Table4.4:FatalOccupationalInjuriesbyEventorExposure 33

Table4.5:TotalRecordableCasesofNonfatalInjuriesandIllnesses 33

Table5.1:WorldEconomicForumCompetitivenessIndexIndicators-Selectionofthose

RelevanttoStandards,Technology,andInformationDisseminationSolutions,RankingsOutof

141Countries(LowerisBetter) 47

Table6.1:RankingsforaSelectionofMetricsandCountries(LowerisBetter) 52

TableB.6.2:ApproximationofU.S.ShipmentsandValueAddedofGoodsProducedusing

AdditiveManufacturing 61

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ListofFigures

Figure1.1:IllustrationofObjectives-DriveInputsandNegativeExternalitiesDownwhile

IncreasingProductionOutputandProductFunction 4

Figure1.2:DataCategorizationforExaminingtheEconomicsofManufacturing 5

Figure1.3:IllustrationoftheFeasibilityofDataCollectionandAvailability 8

Figure2.1:National25-YearCompoundAnnualGrowth,byCountry(1997to2022):Higheris

Better 10

Figure2.2:National5-YearCompoundAnnualGrowth,byCountry(2017to2022):Higheris

Better 10

Figure2.3:ManufacturingValueAdded,Top10ManufacturingCountries(1970to2022) 11

Figure2.4:Manufacturing'sShareofNationalGDP(Constant2015Dollars) 12

Figure2.5:ManufacturingValueAddedPerCapita,Top10LargestManufacturingCountries

(1970to2022):HigherisBetter 12

Figure2.6:ManufacturingPerCapitaRanking,1970-2022:LowerisBetter 13

Figure2.7:GlobalManufacturingValueAddedbyIndustry,byCountry/Region(2020) 14

Figure2.8:CumulativePercentChangeinValueAdded(2017ChainedDollars) 15

Figure2.9:ValueAddedforDurableGoodsbyType(billionsofchaineddollars),2009-2023 16

Figure2.10:ValueAddedforNondurableGoodsbyType(billionsofchaineddollars),2009-

2023 16

Figure2.11:ManufacturingValueAddedbySubsector(billionsofchaineddollars),2005-2022

17

Figure2.12:Current-CostNetStock:PrivateEquipment,Manufacturing(2005-2022) 18

Figure2.13:Current-CostNetStock:PrivateStructures,Manufacturing(2005-2022) 19

Figure2.14:Current-CostNetStock:IntellectualPropertyProducts,Manufacturing(2005-2022)

20

Figure2.15:Current-CostNetStockinManufacturing,byType(2005-2022) 21

Figure3.1:ManufacturingSupplyChain,2021 23

Figure4.1:CumulativeChangeinPercentinManufacturingEmployment(SeasonallyAdjusted)

andNumberofJobOpenings(seasonallyAdjusted),2005-2023 32

Figure4.2:ManufacturingFatalitiesandInjuries 34

Figure4.3:AverageWeeklyHoursforAllEmployees(SeasonallyAdjusted) 34

Figure4.4:AverageHourlyWagesforManufacturingandPrivateIndustry(Seasonally

Adjusted) 35

Figure4.5:EmployeeCompensation(Hourly) 36

Figure4.6:Inflation-CumulativePercentChangeintheProducerPriceIndex(SellingPrice

Received),2005-2024 36

Figure4.7:ProfitsforCorporations 37

Figure4.8:NonfarmProprietor'sIncome 38

Figure4.9:ManufacturingLaborProductivityIndex(2017BaseYear=100) 38

Figure4.10:ManufacturingTotalFactorProductivityIndex 39

Figure4.11:OutputperLaborHour(TopTenLargestManufacturingCountriesfromFigure2.3)

39

Figure5.1:PatentApplications(Residents)perMillionPeople,TopTenLargestManufacturing

Countries(1990-2020) 40

Figure5.2:ResearchandDevelopmentExpendituresasaPercentofGDP,TopTenLargest

ManufacturingCountries 41

Figure5.3:ManufacturingEnterpriseResearchandDevelopmentExpenditures(PPPConverted

$Billion2015),Top10LargestManufacturingCountries 42

Figure5.4:ResearchersperMillionPeople,Ranking 43

Figure5.5:JournalArticles,Top10Countries 44

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Figure5.6:MerchandiseExports,TopTenExporters 45

Figure5.7:IMDWorldCompetitivenessRankingsfortheUS:LowerisBetter(i.e.,aRankof1is

BetterthanaRankof67)-67countriesranked 45

Figure5.8:WorldEconomicForum2019GlobalCompetitivenessIndex:U.S.PillarRankings:

LowerisBetter 46

Figure5.9:RankingsfromtheCompetitiveIndustrialPerformanceIndex2024,150Total

Countries 48

Figure5.10:FactorsImpactingU.S.Business(AnnualSurveyofEntrepreneurs),2022 49

Figure5.11:Made-in-CountryIndex,2017 49

Figure5.12:IpsosNationalBrandsIndex,2023 50

Preface

ThisstudywasconductedbytheAppliedEconomicsOffice(AEO)intheEngineering

Laboratory(EL)attheNationalInstituteofStandardsandTechnology(NIST).ThestudyprovidesaggregatemanufacturingindustrydataandindustrysubsectordatatodevelopaquantitativedepictionoftheU.S.manufacturingindustry.

Acronyms

AM:AdditiveManufacturing

ASM:AnnualSurveyofManufactures

ATP:AdvancedTechnologyProgram

BEA:BureauofEconomicAnalysis

BLS:BureauofLaborStatistics

CAG:CompoundAnnualGrowth

CEO:ChiefExecutiveOfficer

DARPA:DefenseAdvancedResearchProjectsAgency

GDP:GrossDomesticProduct

ISIC:InternationalStandardIndustrialClassification

NAICS:NorthAmericanIndustryClassificationSystem

NIST:NationalInstituteofStandardsandTechnology

OECD:OrganizationforEconomicCooperationandDevelopment

PPP:PurchasingPowerParity

R&D:ResearchandDevelopment

SBIR:SmallBusinessInnovationResearchProgram

SIC:StandardIndustrialClassification

STEP:StandardfortheExchangeofProductModelData

USGS:UnitedStatesGeologicalSurvey

VA:ValueAdded

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ExecutiveSummary

ThisreportprovidesastatisticalreviewoftheU.S.manufacturingindustry.Thereare

threeaspectsofU.S.manufacturingthatareconsidered:(1)howtheU.S.industry

comparestoothercountries,(2)thetrendsinthedomesticindustry,and(3)theindustrytrendscomparedtothoseinothercountries.TheU.S.remainsamajormanufacturing

nation;however,othercountriesarerisingrapidly.

AlthoughU.S.manufacturingperformswellinmanyrespects,thereareopportunitiesforadvancingcompetitiveness.ThiswillrequirestrategicplacementofresourcestoensurethatU.S.investmentshavethehighestreturnpossible.

Competitiveness-ManufacturingIndustrySize:In2022,therewas$15.0trillionofvalueadded(i.e.,GDP)inglobalmanufacturinginconstant2015dollars,whichis

17.5%ofthevalueaddedbyallindustries($86.1trillion),accordingtotheUnitedNationsStatisticsDivision.TheU.S.accountedfor$2.6trillion(15.1%)in

manufacturingvaluedaddedwhileChinaaccountedfor$5.1trillion(31.0%).Directand

indirect(i.e.,purchasesfromotherindustries)manufacturingaccountsfor17.1%of

GDP.Amongthetenlargestmanufacturingcountries,theU.S.isthe2ndlargest

manufacturingvalueaddedpercapita(see

Figure2.5)

andoutofallcountriesthemostrecentU.S.rankis16th,asillustratedin

Figure2.6.

In2020,ChinaproducedmorethantheU.S.in9ofthe11subsectorsshownin

Figure2.7.

Competitiveness-ManufacturingGrowth:Compoundreal(i.e.,controllingfor

inflation)annualgrowthintheU.S.between1997and2022(i.e.,25-yeargrowth)was

1.7%,whichplacestheU.S.belowthe50thpercentile.ThecompoundannualgrowthfortheU.S.between2017and2022(i.e.,5-yeargrowth)was1.5%.ThisputstheU.S.justbelowthe50thpercentile,aboveCanadaandGermanyamongothers.

Competitiveness-Productivity:Laborproductivityformanufacturingincreasedby

0.4%betweenthesecondquarterof2023andthesecondquarterof2024,asillustratedin

Figure4.9.

Thefive-yearcompoundannualgrowthis0.4%.ForU.S.manufacturing,totalfactorproductivitydecreased1.3%from2021to2022andhasa5-yearcompoundannualgrowthrateof0.1%,asillustratedin

Figure4.10.

ProductivityintheU.S.is

relativelyhighcomparedtoothercountries.Asillustratedin

Figure4.11,

theU.S.is

rankedninthinoutputperhouramong142countriesusingdatafromtheConference

Board.Inrecentyears,productivitygrowthhasbeennegativeorhascometoaplateauinmanycountriesandtheU.S.seemstobefollowingthispatternofslowgrowth.Therearecompetingexplanationsforwhyproductivityhasslowed,suchasanagingpopulation,

inequality,orotherfactors.Anumberoftheexplanationsequatetolowlevelsofcapitalinvestment.Itisalsoimportanttonotethatproductivityisdifficulttomeasureandevenmoredifficulttocompareacrosscountries.Moreover,theevidencedoesnotseemto

supportanyparticularexplanationoveranotherastowhyproductivityappearstohavestalled.

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Competitiveness-EconomicEnvironment:Thereisnoagreeduponmeasurefor

research,innovation,andotherfactorsfordoingbusiness,butthereareanumberof

commonmeasuresthatareused.TherankingoftheU.S.inthesemeasureshasmixed

results,rankinghighinsomeandlowerinothers.Forinstance,theU.S.ranks4thin

patentapplicationspermillionpeoplebutranks18thinresearcherspercapitaand24thinjournalarticlepublicationspercapita.TheIMDWorldCompetitivenessIndex,which

measurescompetitivenessforconductingbusiness,rankedtheU.S.12thin

competitivenessforconductingbusinessandtheWorldEconomicForum,whichassessesthecompetitivenessindeterminingproductivity,rankedtheU.S.5th.Notethatneitherofthesearespecifictomanufacturing,though.TheCompetitiveIndustrialPerformance

Index,whichmeasurescapacitytoproduceandexportmanufacturedgoods;

technologicaldeepeningandupgrading;andworldimpact,rankedtheU.S.as6th.

DomesticSpecifics-TypesofGoodsProduced:ThelargestmanufacturingsubsectorintheU.S.ischemicalmanufacturingfollowedbyfood,beverage,andtobaccoproducts

andthencomputerandelectronicproducts,asseenin

Figure2.11.

Discretetechnologyproductsaccountedfor39%ofU.S.manufacturing.

DomesticSpecifics-ManufacturingSupplyChainCosts:High-costsupplychain

industries/activitiesmightposeasopportunitiesforadvancingcompetitiveness.For

discretetechnologyproducts,thelargestsupplychainitems,basedonNAICScode,

includewholesaletrade,primarymetals,fabricatedmetals,managementofcompanies

andenterprises,andchemicalproducts.Forprocessmanufacturing,thelargestitemswereoilandgasextraction;wholesaletrade;managementofcompaniesandenterprises;and

miscellaneousprofessional,scientific,andtechnicalservices.

DomesticSpecifics-ManufacturingSafety,Compensation,andProfits:Asillustratedin

Figure4.5,

employeecompensationinmanufacturing,whichincludesbenefits,hashad

afive-yearcompoundannualgrowthof-1.9%.Inrecentyears,manufacturing

compensationhashadanegativetrendwhilethatofprivateindustryhashadapositive

trend.Compensationinmanufacturing,whichincludesbenefits,stillslightlyexceedsthatofthetotalprivateindustry;however,thedifferencehasnarrowedsignificantly.Intermsofsafetyinmanufacturing,injuriesandtheinjuryratehavegenerallytrendeddownwardsince2002,asseenin

Figure4.2

whilefatalitieshasplateauedorevenincreasedslightlyinrecentyears.

Forthosethatinvestinmanufacturing,corporateprofitshavehadafive-yearcompoundannualgrowthof11.1%,asillustrated

Figure4.7,

andnonfarmproprietors’incomeformanufacturinghashadafive-yearcompoundannualgrowthrateof14.9%,asillustratedin

Figure4.8.

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1.Introduction

1.1.Background

PublicentitieshaveasignificantroleintheU.S.innovationprocess(BlockandKeller2016).Thefederalgovernmenthashadasubstantialimpactindeveloping,supporting,

andnurturingnumerousinnovationsandindustries,includingtheInternet,

telecommunications,aerospace,semiconductors,computers,pharmaceuticals,and

nuclearpoweramongothers,manyofwhichmaynothavecometofruitionwithout

publicsupport(WessnerandWolff2012).AlthoughtheDefenseAdvancedResearchProjectsAgency(DARPA),SmallBusinessInnovationResearchProgram(SBIR),and

AdvancedTechnologyProgram(ATP)havereceivedattentioninthescholarly

community,thereisgenerallylimitedawarenessofthegovernment’sroleinU.S.

innovation.ThevastnessanddiversityofU.S.federalresearchanddevelopment

programsalongwiththeirchangingnaturemakethemdifficulttocategorizeandevaluate(BlockandKeller2016),buttheirimpactisoftensignificant.Forinstance,theoriginsofGooglearerootedinapublicgrantthroughtheNationalScienceFoundation(National

ScienceFoundation2004;BlockandKeller2016).Oneobjectiveofpublicinnovationistoenhanceeconomicsecurityandimproveourqualityoflife(NationalInstituteof

StandardsandTechnology2018),whichisachievedinpartbyadvancingefficiencyin

whichresourcesareconsumedorimpactedbyproduction.Thisincludesdecreasing

inputs,whichamounttocosts,andnegativeexternalities(e.g.,environmentalimpacts)

whileincreasingoutput,(i.e.,theproductsproduced),andthefunctionoftheproduct

(e.g.,theusefulnessorqualityoftheproduct),asseenin

Figure1.1.

Inpursuitofthis

goal,theNationalInstituteofStandardsandTechnology(NIST)hasexpendedresourcesonanumberofprojects,suchassupportforthedevelopmentoftheInternational

StandardfortheExchangeofProductModelData(STEP)(RobertD.Niehaus,Inc2014),whichreducestheneedforduplicativeeffortssuchasre-enteringdesigndata.

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Figure1.1:IllustrationofObjectives-DriveInputsandNegativeExternalitiesDownwhileIncreasingProductionOutputandProductFunction

1.2.PurposeofthisReport

ThepurposeofthisreportistocharacterizeU.S.innovationandindustrial

competitivenessinmanufacturing,asitrelatestotheobjectivesillustratedin

Figure1.1.

ItincludestrackingdomesticmanufacturingactivityanditssupplychaininordertodevelopaquantitativedepictionofU.S.manufacturinginthecontextofthedomesticeconomyandglobalindustry.Therearefiveaspectsthatencapsulatetheinformationdiscussedinthisreport:

?GrowthandSize:ThesizeoftheU.S.manufacturingindustryanditsgrowthrateascomparedtoothercountriesrevealstherelativecompetitivenessofthe

industry.

oMetrics:Valueadded,valueaddedpercapita,assets,andcompoundannualgrowth

?Productivity:Itisnecessarytouseresourcesefficientlytohaveacompetitivemanufacturingindustry.Productivityisamajordriverofthegrowthandsizeoftheindustry.

oMetrics:Laborproductivityindex,totalfactorproductivityindex,outputperhour

?EconomicEnvironment:Anumberoffactors,includingresearch,policies,andsocietaltrends,canaffecttheproductivityandsizeoftheindustry.

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oMetrics:ResearchanddevelopmentexpendituresasapercentofGDP,

journalarticlespercapita,researcherspercapita,competitivenessindices,inflation,patents

?StakeholderImpact:Owners,employees,andotherstakeholdersinvesttheirresourcesintomanufacturingwiththepurposeofreceivingsomebenefit.Thecostsandreturnthattheyreceivecandriveindustryproductivityandgrowth.However,dataislimitedonthistopicarea.

oMetrics:Numberofemployees,compensation,safetyincidents,profits,exports,hoursworked

?AreasforAdvancement:Itisimportanttoidentifyareasofinvestmentthathavethepotentialtohaveahighreturn,whichcanfacilitateproductivityandgrowthinmanufacturing.

oMetrics:High-costsupplychaincomponents,countrycomparisonindices

Currently,thisannualreportdiscussesitemsrelatedtoinputsforproductionandoutputsfromproduction.Itdoesnotdiscussnegativeexternalities,theinputsthatareusedinthefunctionofaproduct(e.g.,gasolineforanautomobile),orthefunctionoftheproduct;

however,theseitemsmightbeincludedinfuturereports.

Manufacturingmetricscanbecategorizedbystakeholder,scale,andmetrictype(see

Figure1.2)

.Stakeholdersincludetheindividualsthathaveaninterestinmanufacturing.

Allthemetricsinthisreportrelatedirectlyorindirectlytoalloraselectionof

stakeholders.Thebenefitsforsomestakeholdersarecostsforotherstakeholders.For

Stakeholders

OwnersEmployeesConsumers

Citizens

Context:Compared

overtimeand/or

between

countries/industries

IndirectMeasure

Scale

Nominal

Normalized

DirectMeasure

Figure1.2:DataCategorizationforExaminingtheEconomicsofManufacturing

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instance,thepriceofaproductisacosttotheconsumerbutrepresentscompensationandprofitfortheproducers.Thescaleindicateswhetherthemetricisnominal(e.g.,thetotalU.S.manufacturingrevenue)orisadjustedtoanotionallycommonscale(e.g.,revenue

percapita).Themetrictypedistinguisheswhetherthemetricmeasuresmanufacturingactivitiesdirectly(e.g.,totalemployment)ormeasuresthosethingsthataffect

manufacturing(e.g.,researchanddevelopment).Thesemetricsarethencomparedovertimeand/orbetweenindustriestoprovidecontexttoU.S.manufacturingactivities.

1.3.ScopeandApproach

Therearenumerousaspectsonecouldexamineinmanufacturing.ThisreportdiscussesasubsetofstakeholdersandfocusesonU.S.manufacturing.Amongthemanydatasets

available,itutilizesthosethatareprominentandareconsistentwitheconomicstandards.Thesecriteriaarefurtherdiscussedbelow.

Stakeholders:Thisreportfocusesontheemployeesandtheowners/investors,asthedataavailablefacilitatesexaminingtheseentities.Futureworkmaymovetowardexaminingotherstakeholdersinmanufacturing,suchastheconsumersandgeneralpublic.

GeographicScope:Manychangeagentsareconcernedwithacertaingroupofpeopleororganizations.SinceNISTisconcernedwith"U.S.innovationandcompetitiveness,"thisreportfocusesonactivitieswithinnationalborders.Inaworldofglobalization,thiseffortischallenging,assomeofthepartsandmaterialsbeingusedinU.S.-basedmanufacturingactivitiesareimported.Theimportedvaluesarearelativelysmallpercentageoftotal

activity,buttheyareimportantinregardtoafirm’sproduction.NIST,however,

promotesU.S.innovationandindustrialcompetitiveness;therefore,considerationoftheseimportedgoodsandservicesareoutsideofthescopeofthisreport.

StandardDataCategorization:DomesticdataintheU.S.tendstobeorganizedusing

NAICScodes,whicharethestandardusedbyfederalstatisticalagenciesclassifying

businessestablishmentsintheUnitedStates.NAICSwasjointlydevelopedbytheU.S.EconomicClassificationPolicyCommittee,StatisticsCanada,andMexico’sInstituto

NacionaldeEstadísticayGeografía,andwasadoptedin1997.NAICShasseveralmajorcategorieseachwithsubcategories.HistoricdataandsomeorganizationscontinuetousethepredecessorofNAICS,whichistheStandardIndustrialClassificationsystem(SIC).NAICScodesarecategorizedatvaryinglevelsofdetail.Thebroadestlevelofdetailis

thetwo-digitNAICScode,whichhas20categories.Moredetaileddataisreportedasthenumberofdigitsincrease;thus,three-digitNAICSprovidemoredetailthanthetwo-digitandthefour-digitprovidesmoredetailthanthethree-digit.Themaximumissixdigits.

Sometimesatwo,three,four,orfive-digitcodeisfollowedbyzeros,whichdonotrepresentcategories.Theyarenullorplaceholders.Forexample,thecode336000representsNAICS336.InternationaldatatendstobeintheInternationalStandardIndustrialClassification(ISIC)version3.1,arevisedUnitedNationssystemfor

classifyingeconomicdata.Manufacturingisbrokeninto23majorcategories(ISIC15

through37),withadditionalsubcategorization.ThisdatacategorizationworkssimilartoNAICSinthatadditionaldigitsrepresentadditionaldetail.

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DataSources:Thomas(2012)exploresanumberofdatasourcesforexaminingU.S.

manufacturingactivity(Thomas2012).ThisreportselectsfromsourcesthatarethemostprominentandrevealthemostinformationabouttheU.S.manufacturingindustry.ThesedataincludetheUnitedNationsStatisticsDivision’sNationalAccountsMainAggregatesDatabaseandtheU.S.CensusBureau’sAnnualSurveyofManufactures,amongothers.Becausethedatasourcesarescatteredacrossseveralresources,therearedifferencesin

whatyearlydataisavailableforaparticularcategoryortopic.Ineachcase,themost-up-to-dateandavailableinformationisprovidedfortherelevantcategory.

DataLimitations:Likeallcollectionsofinformation,thedataonmanufacturinghas

limitations.Ingeneral,thereare3aspectstoeconomicdataofthistype:1)breadthofthedata,2)depthofthedata,and3)thetimelinessofthedata.Thebreadthofthedatareferstothespanofitemscovered,suchasthenumberofcountriesandyears.Thedepthofthedatareferstothenumberofdetailedbreakouts,suchasvalueadded,expenditures,and

industries.Ingeneral,breadthanddeptharesuchthatwhenthenumberofitemsineacharemultipliedtogetheritequalsthenumberofobservationsinthedatasetforaparticulartimeperiod.Forinstance,ifyouhavevalueaddeddataon5industriesfor20countries

forasingleyear,thenyouwouldhave100observations(i.e.,5x20=100).The

timelinessofthedatareferstohowrecentlythedatawasreleased.Forinstance,isthe

data1yearoldor5yearsoldatrelease.Ingeneral,datacanperformwellin2ofthese3criteria,butitislesscommontoperformwellonall3duetofeasibilityofdatacollection(see

Figure1.3)

.Moreover,inthisreportthereisdatathatisveryrecent(timeliness)andspansnumeroussubsectors(depth),butitonlyrepresentstheUnitedStates.Ontheotherhand,thereisdatathatspansmultiplecountries(breadth)andsubsectorsof

manufacturing(depth);however,thisdataisfromseveralyearsago.Fortunately,industryleveltrendschangeslowly;thus,thedatamaynotbefromthemostrecentyears,butitisstillrepresentative.

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Timeliness

OlderNewer

Deep

Shallow

Broad

Narrow

Breadth

MoreFeasible

Lessfeasible

Figure1.3:IllustrationoftheFeasibilityofDataCollectionandAvailability

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2.ValueAdded

Valueaddedistheprimarymetricusedtomeasureeconomicactivity.Itisdefinedastheincreaseinthevalueofoutputatagivenstageofproduction;thatis,itisthevalueof

outp