re: Manufacturing now smallest share of US Economy in 72 years--

Ok give a list of media that says what you want to hear I will try to stick to those sources.

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Wednesday’s third-quarter GDP report is forecast to show the economy grew at the second-slowest pace of Trump’s presidency. On Friday, data may show manufacturing jobs dropped 55,000 in October from the prior month, largely reflecting the walkout of thousands of General Motors Co. employees.

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Dingbat loon.

Well we did make it two pages in the thread before he brought up Wilbur Ross his wicked daddy.

you do realize that if manufacturing were to grow at, say 5%, but the rest of the economy grows at 10%, it would still constitute a smaller share of the US economy, right?

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every fricking day with your shite.

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Your one trick, and many others, is Pro-Trump all day all the time, regardless of the facts or issues. In my book, that is significantly more tiresome and lame.

I don't agree with the dude most of the time, but at least he is an actual thinker.

A Michael Bloomberg media corporation is putting out anti-Trump articles, surprising...

You guys like failed democrat Peter Navarro so much. Do you think if one of the democrats said they would pick him as VP they might convince you to vote for them?

Are your really a conservative when you defend Ross and Navarro and Trump's big government trade war??

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You do realize this shite started with Bill Clinton right...?

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Shares of Real GDP Don't give the Real story of Manufacturing

So, there are a lot of moving parts here, but the data the BEA uses is flawed because of the method of calculating inflation adjusted contribution to GDP.

TLDR:

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What does all this mean for our understanding of the state of U.S. manufacturing? Adjusted for inflation, U.S. manufacturing production 6 really has grown a lot since the early 1970s, even as many industries have struggled and the sector as a whole has shed millions of jobs. That real growth has slowed since 2000, though, and as I've written before (and Baily and Bosworth discuss in their 2014 article), a lot of the manufacturing output growth since the mid-1980s, when the BEA started factoring quality improvements in computers into its measures of real output, has been driven by the rising quality of computers and electronic products, not by increases in actual, you know, output. In the meantime, U.S. economic activity has steadily shifted away from goods and toward services. In short, manufacturing isn't going away, but its share of the economy is in no meaningful sense the same now as it was in the 1960s.

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Nominal overstates the decline, Real measures overstate the current situation, and it is important to note the contributions that computer and electric products contribute, though I imagine many people don't think of them when they picture "manufacturing".