Manufacturing construction spending across the United States continues to smash through 20-year highs, hitting a $194 billion annual rate in April, nearly double the $107 billion annual rate from a year ago, according to the St. Louis branch of the Federal Reserve. A number of fundamentals are helping drive the return of manufacturing spending to the United States, including U.S. personal consumption spending, with Americans accounting for 30% of global consumption, despite making up only 4.5% of the population.
Read the article.