{"id":150,"date":"2014-12-15T09:00:58","date_gmt":"2014-12-15T14:00:58","guid":{"rendered":"http:\/\/www.deecometals.com\/blog\/?p=150"},"modified":"2026-04-29T10:02:50","modified_gmt":"2026-04-29T14:02:50","slug":"deeco-on-the-us-economy","status":"publish","type":"post","link":"https:\/\/www.deecometals.com\/blog\/deeco-on-the-us-economy\/","title":{"rendered":"Deeco on the US Economy"},"content":{"rendered":"

\"usThe US economy has been trudging along since 2008, trying to dig itself out of the Great Recession. With hard work, comes great reward as the US is finally in the black. There have been three driving forces helping the US economy bounce back.<\/p>\n

The first of which is the lower energy prices. Oil is at its lowest for many years and the USA has become the largest oil producer in the world in a very short period of time!\u00a0 This is credited to the development of alternative methods of sourcing oil such as fracking.\u00a0 Oil prices have continued to drop and this decline is allowing the US to be more competitive globally as it drops production and shipping costs. Lower oil prices will allow American goods to be shipped overseas for much cheaper than before, allowing foreign consumers to purchase even more.\u00a0 A secondary effect is increased spending by Americans, job-creation, and industry-expansion, thus increasing demand from imports.\u00a0 A rising tide lifts all ships.<\/p>\n

The International Monetary Fund<\/a> estimates that lower energy costs will boost economic growth by 3.5%!<\/p>\n

The second driving force will be the increased manufacturing demand from abroad. \u00a0Aerospace and automobile manufacturing is still large in the United States and as demand from the Middle East and Asia grows, so will the exports.<\/p>\n

The last and possibly most important driving force is technological innovation. \u00a0Advanced automation, additive manufacturing, data analytics and the like is changing the manufacturing sector. With an emphasis on STEM education, more and more Americans are ready to tackle the challenges of advanced manufacturing. \u00a0CAD, prototyping, and other engineering skills are becoming commonplace and will give the United States a firm advantage in the years ahead.<\/p>\n

Due to this increased attention to STEM education and Skilled\/Technical Labor jobs, more advanced manufacturing is expected to return to the US in the future, but more on this in later posts.\u00a0 Perhaps, the lower energy prices currently being experienced and projected for the future are the springboard that the US economy needs to further excel and advance.<\/p>\n

2015 Projections<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US economy has been trudging along since 2008, trying to dig itself out of the Great Recession. With hard work, comes great reward as the US is finally in the black. 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