** The United States has experienced a striking surge in construction spending for manufacturing facilities. Real manufacturing construction spending has doubled since the end of 2021 (Figure 1). The surge comes in a supportive policy environment for manufacturing construction: the Infrastructure Investment and Jobs Act (IIJA), Inflation Reduction Act (IRA), and CHIPS Act each provided direct funding and tax incentives for public and private manufacturing construction.**
The heart of the next six months for all of us whether long or waiting, will be the equity and bond market fall due to rate hikes and overvaluation. Have retail sales slowed because of student loan repayments?
Do we get an opportunity to buy much lower? This is very shaky right now. I do not know. I want it that does not mean I get it. We can not figure out or judge that during the holiday season.
Factory building and actual production have begun. We saw the productivity number jump.
After a good night’s sleep the big productive increase is among workers who stopped changing jobs. Yes many had promotions and better pay. Now the workers are getting better at their jobs because many are staying a little longer.