U.S. Industrial Manufacturing Industry to See 27 Plant Closures in 2008

SUGAR LAND--April 24, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--As the U.S. economy slowly spirals into a recession, the Industrial Manufacturing Industry, the blue-collar backbone of American industry, has begun to show the effects of the economic downturn. A struggling automotive industry, a crumbling housing market, the credit crunch and steady increases in the cost of gasoline have been a recipe for disaster for the industry as a whole. Spending has remained steady, but companies are beginning to trim the fat, resulting in the closure of plants becoming more prevalent.