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US MANUFACTURING CROWN SLIPS

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The US remained the world's biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China ¨C thus ending a 110-year run as the number one country in factory production.

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The figures are revealed in a league table being published on Monday by IHS Global Insight, a US-based economics consultancy.

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Last year, the US created 19.9 per cent of world manufacturing output, compared with 18.6 per cent for China, with the US staying ahead despite a steep fall in factory production due to the global recession.

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That the US is still top comes as a surprise, since in 2008 ¨C before the slump of the past two years took hold ¨C IHS predicted it would lose pole position in 2009.

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However, a relatively resilient US performance kept China in second place, says IHS, which predicts that faster growth in China will deny the US the top spot next year.

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The US became the world's biggest manufacturer in the late 1890s, edging the then-incumbent ¨C Britain ¨C into the number two position.

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Hal Sirkin, head of the global operations practice at Chicago-based Boston Consulting Group, said the US should not despair too much at the likelihood that it would lose the global crown in manufacturing to China.

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¡°If you have a country with four times the population of the US and a tenth of the wages, it is fairly obvious they will pull ahead at some time in productive capabilities,¡° he said.

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Last year, according to IHS, goods output by the US totalled $1,717bn, ahead of China at $1,608bn.

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However in 2011, on the basis of IHS's estimates, China's factory output will come to $1,870bn, a fraction ahead of the projected US figure for the year.

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If China does become the world's biggest manufacturer, it will be a return to the top slot for a nation which ¨C according to economic historians ¨C was the world's leading country for goods production for more than 1,500 years up until the 1850s, when Britain took over for a brief spell, mainly due to the impetus of the industrial revolution.

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The IHS figures are worked out on the basis of current-year output numbers, translated into dollars, with no adjustments for inflation. If the figures are calculated in inflation-adjusted, constant price terms, then I HS believes that the US will keep its top role in manufacturing for a little longer.

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On an inflation-adjusted basis, which is based on a forecast that US inflation will be lower than that in China over the next few years, China is forecast to take over the number one position in manufacturing in 2013-14.

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According to the IHS numbers, world manufacturing output last year came to $8,638bn (€6,979bn, £5,825bn) or 16.7 per cent of global gross domestic product.

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