US engineering companies are more successful than the rest of US manufacturing industry because they invest heavily in training, technology and research, according to a report from the Institute for Manufacturing in London.
`The idea that US manufacturers benefit from having few international competitors is a myth,’ said IFM economic adviser Elaine Barnett. `There is actually a lot of regional competition.’
In a report which looks at lessons from the US for British firms, to be published in July, the institute has found that US engineering outperformed all US manufacturing sectors in output over the past 37 years. Electrical and industrial machinery companies have seen annual double-digit growth in the past few years, it said.