"The BEA’s report last week on GDP-by-Industry showed that real manufacturing output (value added) in the US reached an all-time record high of more than $2 trillion (in 2009 dollars) in the first quarter of this year. See related CD post “De-industrialization? Well, America’s thriving manufacturing sector just produced a record level of output in Q1.” That was actually the third quarter in a row starting in 2017:Q3 that US manufacturing reached record high levels, surpassing the previous record high level of US factory output established back in 2007:3 before America’s and other countries’ manufacturing sectors were devastated by the Great Recession."
"As the top chart above shows, manufacturing output as a share of US GDP has been in steady decline since the early 1950s, falling from a high of 28% in 1953 to a low of 11.6% last year."
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