68.4% of U.S. manufacturing demand was met by domestic production. The remaining 31.6%, was met by imports.

The improvement in the DMSI was fueled by both an improvement in the U.S. trade deficit in manufactured goods and U.S. manufacturing output. The DMSI is now reaching pre-COVID levels, signaling a potential recovery from the all-time low 2022 DMSI levels. The year 2022 was an exceptionally high import year due to a variety of factors. These include continuing economic recovery after the COVID crisis, a stimulus-induced overheating of the economy, as well as fluctuations and volatility in inventory and supply chains readjusting from COVID lockdowns.

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