Much of our old infrastructure is crumbling, slowing down the economy, stalling job creation and making it harder for the United States to compete globally. And the new infrastructure we need isn’t being built nearly fast enough.
Machine-tool demand in the U.S. and Europe regained sustained strength in the first half of 2017, but a wider outlook suggests global industrial demand is still searching for stability.
Mid-market manufacturing firms in a survey last month reported revenue growth of 7.1% on average, compared to 6.7% for manufacturers as a whole.
The upward revision to consumption reflects spending on wireless-phone services, used cars and electricity and natural gas.
However, the survey showed consumers are not expecting the economy to improve much in the short-term.
As foreign direct investment in the U.S. has increased, many members in Congress have become concerned about foreign acquisitions of U.S. manufacturers that are perceived to be essential to U.S. national and economic security.