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In 2023, the manufacturing industry in the United States accounted for 10.70% of the total national output, employing 8.41% of the workforce. The total value of manufacturing output reached $2.5 trillion. [66] [67] In 2023, Germany's manufacturing output reached $844.93 billion, marking a 12.25% increase from 2022. The sector employed ...
The following outline is provided as an overview of and topical guide to industry: Industry , in economics and economic geography , refers to the production of an economic good or service within an economy .
A modern automobile assembly line. Mass production, also known as flow production, series production, series manufacture, or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines.
Manufacturing – use of machines, tools and labor to produce goods for use or sale. Includes a range of human activity, from handicraft to high-tech , but most commonly refers to industrial production, where raw materials are transformed into finished goods on a large scale.
Industrial processes are procedures involving chemical, physical, electrical, or mechanical steps to aid in the manufacturing of an item or items, usually carried out on a very large scale. Industrial processes are the key components of heavy industry.
National and international statistical agencies use various industry-classification schemes to summarize economic conditions. Securities analysts use such groupings to track common forces acting on groups of companies, to compare companies' performance to that of their peers, and to construct either specialized or diversified portfolios.
Manufacturing, which accounts for 10.3% of the economy, was battered by the Federal Reserve's aggressive monetary policy tightening between March 2022 and July 2023 to tame inflation. Though the U ...
Process manufacturing is a branch of manufacturing that is associated with formulas and manufacturing recipes, [1] and can be contrasted with discrete manufacturing, which is concerned with discrete units, bills of materials and the assembly of components. Process manufacturing is also referred to as a 'process industry' which is defined as an ...