By the end of the 20th century, the manufacturing sector had fundamentally altered from the sector in the 1920s. The sector is now characterised by the following features, except for:

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The other features listed - capital-intensive and machine-paced production, a highly competitive international market, and a high level of overheads relative to direct costs - are all accurate descriptions of the modern manufacturing sector. However, low levels of depreciation do not necessarily characterize the sector, as many manufacturing firms invest heavily in equipment and machinery that may depreciate quickly over time.

By the End of the 20th Century, the Manufacturing Sector