-
US Leaves Global Peers in the Dust With Factory-Building Boom, Treasury Says
The factory-building boom that’s sweeping the US is not happening in other advanced economies, the Treasury Department said, highlighting a gap that’s opening up as the Biden administration plows cash into incentives to spur domestic manufacturing. Construction spending by manufacturers in the US has more than doubled in the past year, reaching an annual rate of almost $190 billion in April. The surge is mainly being driven by the electronics industry, where factory-building has almost quadrupled since the beginning of 2022, the Treasury said in a blog post due to be published Tuesday. “The boom in US ... (full story)