US Manufacturers’ Shipments to Expand 2.8% Annually in Nominal Terms to 2022

6/30/2018

Cleveland, OH, June 30, 2017 — US manufacturers’ shipments are forecast to expand 2.8% annually in nominal terms to 2022, according to Manufacturing: United States, a report recently released by Freedonia Focus Reports. Producers will benefit from rising demand for durable and nondurable goods in the US and key export markets such as Canada and Mexico, despite recent trade concerns. In addition, rising prices – concentrated in the petroleum, coal, and chemical product segments – will largely drive value gains throughout all sectors, as all manufacturing requires energy and goods require transportation. Crude oil prices, which fell during the 2013-2016 period, are expected to grow through 2022.

US net imports of manufactured goods stood at $699 billion in 2017, up 7.7% from 2016. In the spring and summer of 2018, the Trump Administration began unveiling and implementing various measures (e.g., tariffs or quotas on steel) aimed at limiting imports, and in some cases exports of important advanced technologies. It is unclear what short or long term effect these measures will have, but some countries, such as China and Canada, have already instituted retaliatory tariffs in response.

These and other key insights are featured in Manufacturing: United States. This report forecasts to 2022 US manufacturer shipments in nominal and real (inflation-adjusted) US dollars. Total nominal shipments are segmented by product in terms of:

  • transport equipment
  • metal and nonmetallic mineral products
  • electrical and electronic products
  • machinery
  • other durable goods such as wood products, medical equipment and supplies, and furniture and fixtures
  • food and beverages
  • petroleum and coal products
  • chemical and allied products
  • plastic and rubber products
  • other nondurable goods such as pharmaceutical and related products, and paper products

To illustrate historical trends, total nominal and real shipments, the various segments, trade, and the broad dollar index are provided in annual series from 2007 to 2017.

This report includes both final products and interim components of those final products. Thus, total and segment values are subject to various degrees of double-counting. Re-exports of manufactured goods are excluded from demand and trade figures.

More information about the report is available at:

https://www.freedoniafocusreports.com/Manufacturing-United-States-FF70032/