It may be down, but don’t count manufacturing out.
The Associated Press reports the U.S. still leads the world in manufacturing, in terms of the value of goods sold. In 2007, the U.S. produced a record $1.6 trillion in manufactured goods — mainly heavy manufacturing such as aircrafts, weapons, cars and other vehicles.
Lighter manufacturing is being shifted to cheaper production markets overseas.
However, about 8 percent of the U.S. workforce is still employed in manufacturing. Economists expect U.S. manufacturers to emerge from this recession more productive and efficient, The AP reports.