Steve Minter

After being dismissed as headed for an “inevitable and irreversible” death, American manufacturing is rebounding but this upswing is “fragile and its outcome is still quite uncertain,” Andrew Liveris, the CEO of Dow Chemical Co., told a manufacturing conference today in North Carolina.

A report calling for action on currency manipulation said Ohio would reap “enormous benefits” from the elimination of the U.S. goods trade deficit. Benefits could include the creation of an estimated 36,100 to 75,900 manufacturing jobs and an increase in Ohio’s GDP of between $8.3 billion and $17.4 billion.

The dip that U.S. GDP took in the fourth quarter (0.1%) rattled nerves briefly, but after accounting for the 22% decline in defense spending, observers like Paul Martyn, vice president of supply strategy for BravoSolution, a supply management software and services provider, see encouraging signs in the U.S. economy.

Transportation equipment accounted for the lion’s share of the durable goods order increase in December, the U.S. Census Bureau reported today.

New orders increased $10 billion or 4.6% in December to $230.7 billion, after a gain of 0.7% in November. The solid increase outperformed consensus forecasts of a 3.2% rise.

Transportation had the largest increase - $8.1 billion or 11.9% to $75.9 billion. New orders for military aircraft were up 56.4% while orders for civilian aircraft were up 10.1%.

With 6 million jobs lost in the last decade, U.S. manufacturing bore the brunt of globalization and recession, not to mention a widespread belief that its day had simply passed. But panelists at a Brookings Institution conference said there are good reasons to expect a resurgence of U.S. manufacturing if it is supported by smart public policies and public-private programs.