"Made-in-China" Only 2.7% of U.S. Spending; Really? What Does It Mean? Inflationists Take Note

"Made-in-China" Only 2.7% of U.S. Spending; Really? What Does It Mean? Inflationists Take Note

from Mish's Global Economic Trend Analysis by noreply@blogger.com (Michael Shedlock)

For all the political bickering and scapegoating of China, 'Made in China' ranks only 2.7% of U.S. spending

Convinced that everything you buy these days has a Made-in-China label?

Then you aren't paying attention. Things made in the U.S.A. still dominate the American marketplace, according to a new study by economists at the San Francisco Federal Reserve.

Goods and services from China accounted for only 2.7% of U.S. personal consumption spending in 2010, according to the report titled "The U.S. Content of 'Made in China.' " About 88.5% of U.S. spending last year was on American-made products and services.

"On average, of every dollar spent on an item labeled 'Made in China,' 55 cents goes for services produced in the United States," the report said.

It would have been nice to have a link to the Fed report. Missing links is one of my pet peeves. News organizations in general only link to themselves. So do many bloggers. I am tired of it.

Let's do our own report instead.