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Manufacturing is a vital economic sector in the United States of America. [1] The United States is the world's second-largest manufacturer after the People's Republic of China with a record high real output in 2021 of $2.5 trillion. [2] As of December 2016, the U.S. manufacturing industry employed 12.35 million people.
Although the U.S. manufacturing sector no longer dominates the country's economy like it did through much of the 20th century, it still accounts for 12% of the nation's total economic growth. But,...
The CHIPS and Science Act is a U.S. federal statute enacted by the 117th United States Congress and signed into law by President Joe Biden on August 9, 2022. The act authorizes roughly $280 billion in new funding to boost domestic research and manufacturing of semiconductors in the United States, for which it appropriates $52.7 billion.
Sentiment surveys, such as the ISM and Empire State, however, likely overstate the weakness in manufacturing. AUTO SECTOR REBOUND The Fed report showed production at factories decreased 0.8% on a ...
The outlook for manufacturing, which accounts for 10.3% of the economy, is steadily improving amid expectations that the U.S. central bank will start cutting rates this year.
The production of corn (Zea mays mays, also known as "maize") plays a major role in the economy of the United States. The US is the largest corn producer in the world, with 96,000,000 acres (39,000,000 ha) of land reserved for corn production. Corn growth is dominated by west/north central Iowa and east central Illinois. Approximately 13% of ...
S&P Global's own manufacturing PMI reading out Monday showed US manufacturing production reached a 22-month high in March. The firm's broader measure of manufacturing activity hit 51.9 in March ...
Petroleum refining in the United States in 2024 had a capacity of 18.4 million barrels per day. [2] Although the US was the world's largest net importer of refined petroleum products as recently as 2008, the US became a net exporter in 2010, and in 2014 was the largest exporter and the largest net exporter of refined petroleum. [ 3 ]