ABSTRACT
In an absolute sense the US economy has continued to grow in industrial production and by rates of increase during 1983 through 1985 that reached slightly over 20 percent, compared to an increase in Japan of slightly less than 20 percent. The US economy remains stronger, though with comparative inflationary pressure; hence the United States’ export abilities have been reduced and its import prices have increased, further feeding the inflation and raising costs, which in turn have decreased export ability and thereby US competitiveness. In competition with other sectors in the US economy for highly skilled engineers and technicians as well as management, the sector faces obstacles of instability because of the greater swings in production and sales than in the manufacturing sector itself. The sectoral analyses have stressed the loss of technological leadership, or relative decline, on the part of the United States.
