As the nation’s economy seeks to rebound beyond the COVID-19 pandemic, one industry that has already seen growth is manufacturing.
With the onset of the pandemic just over one year ago, the manufacturing industry rapidly declined, with production decreasing approximately 20% between February and April 2020.
“The pandemic hit manufacturing hard. It was a very steep drop, comparable in many ways to the Great Recession,” says Chad Moutray, chief economist for the National Association of Manufacturers (NAM). “Some sectors, like motor vehicles, were hit dramatically harder than that. The good news is manufacturing has been a bright spot since then, bouncing back strongly.”
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