“Made in the USA” is making a comeback. Research shows that after years of losing ground to such countries as China and India, US manufacturers are beginning to gain ground, according to TheStreet.
While a trade deficit (an indicator that shows a nation imports more than it exports) remains, its narrowing is a good sign for the US. Manufacturing has for decades been one of the economic drivers for this country, employing millions and contributing significantly to GDP. Conversely, China and India are showing signs of cooling, which is disappointing investors.
Major US manufacturers are reporting opening or expanding US operations in what could help ease unemployment, which stood at 7.4% in July.