As we close out 2017 and look back on the year, it is hard to argue that the domestic manufacturing sector has certainly enjoyed a resurgence. Since Q4 2106, the manufacturing sector real output has been steadily gaining ground and is approaching the historic high levels last seen in 2008. It is undeniable that we now live in a global economy and that our domestic manufacturing sector consistently faces headwinds from global competition. This new reality is unlikely to change; however, we remain optimistic that the policies that are being promoted and executed will continue to favor the expansion of our domestic manufacturing sector as a prominent player in the global economy.
In our last edition, we discussed the vibe in the manufacturing world immediately following the Presidential election in November. There was certainly a shift towards optimism in the manufacturing sector with the expectation that a commitment to domestic manufacturing was to be one of the primary policy focus points for the new administration. Fast forward 90 days and it certainly appears that this optimism has some staying power.
In navigating our current hyper-political world and 24-hour cable news cycles, it is often difficult to separate the politics from the policy. As a manufacturing organization, it is far more important to understand the policies that are being discussed, vetted and implemented than in the politics that often take front stage. Consider a sampling of headlines from Manufacturing Economy Daily from the last 6 months ---
In our last edition, we posed the question “so what should be on our election wish list this time around?” We added a recommendation that we all start with advocating for policies that recognize and value the role that Manufacturing has had in the building and sustaining of our great nation. With the 2016 Presidential election having now been decided, we certainly have reason for optimism on the Manufacturing front for 2017 and beyond.