U.S. Manufacturers Boost Capital-Spending Expectations, but Trade Uncertainties Loom

September 24, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. manufacturers' capital-spending expectations are up slightly from last quarter, according to a quarterly survey by the National Association of Manufacturers (NAM), although the respondents continue to express concerns regarding trade uncertainties and policy. Industrial Info is tracking a wide variety of active and planned capital U.S. Industrial Manufacturing Industry projects, but the buildout of data centers leads the charge.