The Manufacturing sector comprises establishments that primarily engage in the mechanical, physical or chemical transformation of materials, substances or components into new products. These products may be finished in the sense that they are ready for utilization or consumption, or they may be partially finished, meaning they are used as inputs for an establishment engaged in further manufacturing.
Establishments in this sector are often described as plants, factories or mills and generally use power-driven machines and materials-handling equipment. However, this sector also includes establishments that produce handmade products, such as bakeries, candy stores and custom tailors, may also be included in this sector. Manufacturing establishments may process materials or may contract with other establishments to process their materials for them. The materials used may be purchased directly from producers, obtained through customary trade channels or secured without recourse to the market by transferring the product from one establishment to another, under the same ownership.
The subsectors in the Manufacturing sector generally reflect distinct production processes related to material inputs, production equipment and employee skills. In the machinery area, where assembling is a key activity, parts and accessories for manufactured products are classified in the industry of the finished manufactured item when they are made for separate sale. For example, a replacement refrigerator door would be classified with refrigerators and an attachment for a piece of metal working machinery would be classified with metal working machinery. However, components, input from other manufacturing establishments, are classified based on the production function of the component manufacturer.
LARG Industry Reports
Los Angeles Research Group provides 86 industry reports detailing the Manufacturing sector. Each report contains detailed information on output, employment, enterprises, establishments, assets, liabilities and profitability. LARG’s industry reports also provide in-depth information on market share concentrations, business structure (e.g., corporations, sole-proprietorships, partnerships), key economic indicators, supply chain data, debt ratios and new entrant trends, including survivor rates (i.e., percentage of new businesses that last longer than five years).
In addition to LARG’s standardized report information, LARG’s industry reports in the Manufacturing sector also provide specialized statistics, including detailed information on inventories, material costs, contract work and re-sales. For more information on a particular industry, please click on the appropriate industry below.
This sector comprises establishments that primarily engage in the mechanical, physical or chemical transformations of materials, substances or components into new products. Manufacturing subsectors generally reflect distinct production processes related to material inputs, production equipment and employee skills.