Beneath the cacophony of media noise, an important untold story emerges: A manufacturing boom is unfolding across America right now, and especially so in the geographic center of the country.
This developing boom represents an epochal shift because investments in factories and tangible production involve the stickiest kind of capital expenditures. The commitment to production involves a macro “bet” on a yearslong cycle, not a near-term wager on the latest fad or concerns about the price of gasoline next week.
As such, this mostly hidden story deserves to be studied and amplified, both for the economic benefits and also for the possible political windfall for candidates on the populist right.
But before considering the import of this shift, it’s important to look at the numbers, the verifiable on-the-ground data sets that prove this new reality. The most-watched gauge of productive activity, the ISM Manufacturing Index, just surged to a fresh four-year high. Specifically, that ISM reading stands at 55 now, well above the 50 mark, which signals expansion. It has been rising for seven months.
In addition, manufacturing employment is rising, similarly marking a new four-year record high. These jobs are high-paying, family-sustaining roles that make our whole society stronger, not part-time “hustles” or gig economy transitions.
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