The manufacturing sector has added half a million jobs over the past few years, prompting speculation that, after a decade of offshoring production to lower cost countries like China, firms are now beginning to relocate production back to America. The offshoring boom does appear to have largely run its course but there is, as yet, little evidence of any significant onshoring. Nevertheless, with US labour costs becoming relatively more competitive, domestic energy prices falling and new technologies being developed, the medium-term outlook for the US manufacturing sector is brighter than it has been for a long time.
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