09/25/2018

U.S. Manufacturers Worry Tariffs Could Undermine Recovery

Manufacturing, long the sick patient in the U.S. economy as multinationals outsourced jobs, has added nearly 300,000 positions since the November 2016 election, increasing payrolls in 16 of the past 17 months. That included 22,000 positions last month. Overtime hours are up and orders are on the rise, making the current stretch among the strongest for the manufacturing sector in decades.

Manufacturing executives and economists point to a range of factors supporting hiring and investment. They include strong global growth, elevated consumer and business confidence, a softer dollar supporting exports, a domestic housing rebound, and lower tax rates that are encouraging business investment.

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