One thing that recession always seems to do is focus our attention on the here and now rather than the longterm.
But now that the US economy has been free of the shackles of recession for two years or more, what is the longterm forecast for manufacturing, and in particular, wood furniture component manufacturing?
All in all the future looks bright, with an extended period of growth to come. Although growth is unlikely to be stellar, it should be consistent. It’s actually quite unlikely that mature economies such as North America will ever see periods of rapid growth ever again—this is now fully the domain of emerging nations and young manufacturing economies—exactly as it should be.
Growth will be fueled by new company start ups and the relocation of manufacturing to North America from other Pacific Rim countries that have seen their competitive edge eroded away by recession and workforces striking for higher pay and better working conditions.
Continued investment in technology to produce better quality products, custom orders and ongoing improvements in precision and speed will maintain growth in the positive and lead to a higher-skilled workforce to cement and continue the positive cycle.
Newport Furniture Parts is a Newport, Vermont based wood furniture component manufacture. Newport Furniture Parts also manufactures finished furniture pieces. With a commitment to excellence though a continued investment in technology and skilled labor, the company exemplifies all that is good about manufacturing in the United States.
For further information or to request a quote, contact Newport Furniture Parts today.