"While emerging markets continue to push the leaders, the findings demonstrate the strength of the manufacturing powerhouses of the 20th century with the United States, Germany, and Japan holding three of the top four positions currently and in the future," said Craig Giffi, a leader in Deloitte US Consumer & Industrial Products Industry group and co-author of the report.
"If you add in the UK and Canada, which are also part of the top ten most competitive manufacturing nations, it really emphasizes the 'back to the future' theme of these research findings.
"It also suggests that the BRIC countries (Brazil, Russia, India, and China) - with the exception of China - seem to have lost their allure as highly competitive manufacturing locations today, based on the views of executives responding to this study. India, however, is projected to move back up to the top five in the world, demonstrating executive optimism for the country in the future."
The United States is expected to become the most competitive manufacturing nation over the next five years, with the current leader China sliding into second position, according to the Report.
The prediction is based on an in-depth analysis of survey responses from more than 500 chief executive officers and senior leaders at manufacturing companies around the world. The country index rankings are included in a preview of findings released at the Council's annual National Competitiveness Forum held on Friday, 4 December 2015.
"The 2016 Global Manufacturing Competiveness Index shows the importance of policy, investment, and innovation for company and country level competitiveness," says Deborah L. Wince-Smith, president and CEO of the Council. "Its findings help companies shape their business strategies in order to compete successfully, and create jobs."
The ability of the United States to take the top spot may be largely due to the country's investment in research, technology, and innovation, which enhances the competitiveness of its industries and drives economic development, according to the study Advanced Technologies Initiative: Manufacturing & Innovation, a 2015 report also published by Deloitte Global and the Council.
"Manufacturing competitiveness, increasingly propelled by advanced technologies, is converging the digital and physical worlds, within and beyond the factory to both customers and suppliers, creating a highly responsive, innovative, and competitive global manufacturing landscape," says Craig Giffi, a leader in Deloitte US Consumer & Industrial Products Industry group and co-author of the report.
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