Anecdote Of Note: More U.S. Companies Bringing Jobs Back From China
IndustryWeek reported last week that “more U.S. companies are moving production back from China, according to a new survey from The Boston Consulting Group (BCG).” The BCG survey found 20 percent of manufacturing companies with sales topping $1 billion said they plan to bring some operations and jobs back from China. That figure was up from 13 percent in last year’s survey.
Another 54 percent of manufacturing executives polled said they are “interested in” reshoring – the same percentage as last year. Finally, “Respondents predicted that the U.S. would account for an average of 47 percent of their total production in five years, reflecting a 7 percent increase in U.S. capacity compared with last year’s results” while “only 11 percent of their capacity would be in China, a 21 percent decrease from last year.”
Boosting the reshoring trend, the executives poll also said their “share of production in Mexico, Western Europe, and the rest of Asia would also drop.”