source: Carpe Diem via Federal Reserve and Wikipedia
As Perry explains:
If the U.S. manufacturing sector were a separate country, it would be tied with Germany as the world's third largest economy. It would also be larger than the entire economies of India and Russia combined. As much as we hear about the "demise of U.S. manufacturing," and how we are a country that "doesn't produce anything anymore," and how we have "outsourced our production to China," the U.S. manufacturing sector is alive and well, and the U.S. is still the largest manufacturer in the world.Of course, the numbers are down in 2009, yet -- despite the loss of domestic manufacturing employment caused by productivity gains -- America hasn't been "de-industrialized."