In 2011 The United States will no longer be the world’s leading manufacturer. The distinction will go to China. The US held the title since the 1890’s when the US overtook Great Britain.
The figures produced in table by IHS Global Insight; US Economic consultancy firm. The table will released on this Monday.
In 2009 the US produced 19.9% of the world durable goods. China produced 18.6 of manufactured goods. That happened despite the world-wide recession.
The news surprised experts which expected the Chinese to take the lead from the US in 2009. The American manufacturing sector output is stronger than expected held China at bay in second place.:
Hal Sirkin, head of the global operations practice at Chicago-based Boston Consulting Group, said the US should not despair too much at the likelihood that it would lose the global crown in manufacturing to China.
“If you have a country with four times the population of the US and a tenth of the wages, it is fairly obvious they will pull ahead at some time in productive capabilities,“ he said.
In 2010 US durable good at $1,717 billion; China came in at $1,608 billion.
In 2011, IHS estimates China’s manufacturing will be at $1870 billion. Just a fraction ahead of the US figures.