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Unformatted text preview: e for a significant share of U.S. economic production, generating $1.6
trillion in GDP in 2006 (12.2% of total U.S. gross domestic product (GDP). U.S. manufacturing firms also lead the way on
trade, exporting $923 billion in manufactured goods—64% of all U.S. goods and services exported in 2006.
Manufacturing is one of the most dynamic sectors of the U.S. economy. It was responsible for 60% of all U.S. research and
development spending in 2003, with total research and development spending of $123 billion (total public, corporate, and other funds) in
that year alone (National Science Foundation 2006). Scientists and engineers make up 9% of the manufacturing labor force, a
share that is nearly twice as large as in the rest of the economy.1 As a result, manufacturing productivity growth rates have been
high for decades. Multifactor labor productivity growth averaged 4.6% per year in manufacturing between 1997 and 2005. 2 This was 60% greater
than in the private, non-farm economy as a whole.3 Given the nexus between research and development and manufacturing, a vital manufacturing...
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