"I will bring back factory jobs and rescue the manufacturing industry" -Donald Trump, 2016
Manufacturing Is Now Smallest Share of U.S. Economy in 72 Years By Reade Pickert October 29, 2019, 8:37 AM PDT
Three years after Donald Trump campaigned for president pledging a factory renaissance, the opposite appears to be happening.
Manufacturing made up 11% of gross domestic product in the second quarter, the smallest share in data going back to 1947 and down from 11.1% in the prior period, a Commerce Department report showed Tuesday. Figures before 2005 were for full years only.
The latest number compares with 13.4% for real estate, 12.8% for professional and business services and 12.3% for governments, according to the figures on GDP by industry.