Revised Data Shows Weaker Manufacturing Fall and Also a Weaker Recovery

“There’s been a lot of happy talk recently about the revival of U.S. manufacturing . According to an article in theNew York Times, “manufacturing has been one of the surprising pillars of the recovery. “ In a Forbes.com columnentitled “Manufacturing Stages A Comeback,” well-known geographer Joel Kotkin talks about “the revival of the country’s long distressed industrial sector.” The Economist writes that “against all the odds, American factories are coming back to life.”*

Truly, I’d like to believe in the revival of manufacturing as much as the next person. Manufacturing, in the broadest sense, is an essential part of the U.S. economy, and any good news would be welcome.

Unfortunately, the latest figures do not back up the cheerful rhetoric….

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