U.S. Manufacturing Project Activity is Strong Amid Headwinds
November 4, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Manufacturing activity in the U.S. is at its lowest level since May 2020, according to a survey by the Institute for Supply Management (ISM). The survey respondents noted conditions pointing to softening demand that could continue into the future. Despite this and other challenges that could impact capital spending in the industry, Industrial Info's project data shows U.S. manufacturing project activity remains robust.
Industrial Info is tracking more than $250 billion worth of U.S. projects that are under construction, and $180.7 billion worth that are expected to kick off in 2023. The automotive and semiconductor sectors are driving spending.
Companies featured: Intel Corporation (NASDAQ:INTC), Taiwan Semiconductor Manufacturing Company Limited, Hyundai Motor Company, General Motors Company (NYSE:GM)
