The biggest potential beneficiaries from the anticipated resurgence of U.S. manufacturing include U.S.-based small and midsize industrial suppliers and distributors, according to a white paper from The Boston Company Asset Management, LLC, the Boston-based equity manager for BNY Mellon.
The white paper, Potential Beneficiaries of a U.S. Manufacturing Renaissance, concludes that a series of incremental changes over the past decade have allowed U.S. manufacturing to become more globally competitive.
"The significant decline in the dollar against other key currencies over the last 10 years has reduced the relative cost of U.S. wages," said Shirley E. Mills, vice president and senior research analyst for The Boston Company and the report's author. "This is among the factors that have helped to drive down the labor costs in the U.S. versus many other countries, reducing corporations' incentives for sending production outside the U.S."
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