The 2020 Mid-Year Economic Update_long

Economic Update: Is Manufacturing Bouncing Back?

Cautious optimism remains the theme for the economy in 2010. Slow but steady improvement is being seen in several sectors, yet the latest round of earnings reports demonstrate a hesitation to proclaim the U.S. and global economies have entered the recovery phase.

Last month, Donald A. Norman, an economist for the Manufacturers Alliance/MAPI, referred to the economy having been in "rehab" during the last quarter, while now it "finally appears to be on the road to recovery."

Indeed, manufacturing – one of the hardest hit sectors during this recession – began posting some positive numbers.

According to the Bureau of Labor Statistics, manufacturing added …

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