Within the manufacturing sector, the production of automobiles has significant impact.
Manufacturing is the most important sector for a strong economy, according to a new opinion poll released today by the Auto Alliance in conjunction with a session on Global Manufacturing at the Center for Automotive Research Management Briefing Seminars.
The trade association representing major automakers from three continents said that 92% of those polled said manufacturing is “very” or “somewhat” important to a strong, modern economy, with only 4% saying it was not important.
Within the manufacturing sector, the production of automobiles has significant impact. The greater auto industry is a massive employer reaching well the names of auto companies. Auto manufacturing depends on a broad range of parts, components and materials provided by thousands of suppliers, as well as a vast retail and vehicle maintenance network of dealers. Nationwide, eight million workers and their families depend on autos. Each year the industry generates $500 billion in paychecks, while generating $70 billion in tax revenues across the country.
In the latest poll, when asked which industry sector is most important for the economy, manufacturing led by a large margin, with twice as many respondents selecting manufacturing over the next highest sector: Manufacturing (31%); Technology (14%); Energy (10%); Health Care (8%); Banking (6%); Some Other Sector (9%).
“In our Auto Index poll, we asked 5000 Americans which sector is most important for maintaining a strong economy,” said Mitch Bainwol, president & CEO, Auto Alliance. “Respondents across every demographic group – age, sex, political party, marital status, education level, income level – identified manufacturing as the most significant sector in sustaining a vibrant economy.”
Americans see manufacturing as important in sustaining the country’s status as a world power. The link between manufacturing and world power is “very important” to more than half of Americans (56%); “somewhat important” to one-third of the public (33%) and only 6% said it was not important.
Perhaps recalling the days of America as the “Arsenal of Democracy,” 75% of respondents aged 65 or older identified manufacturing as “very important” for sustaining a country as a world power. In contrast, 52% of those under 29 believe manufacturing is “very important.”
