Nationwide’s October outlook frames 2026 as a recovery year for US manufacturing rather than a clean expansion, with new orders and capital-goods demand back in growth after roughly two years of contraction. Investment linked to AI data centres, electronics, power equipment and fabricated metals is the main driver, reinforced by stronger tax incentives for equipment spending. The caveat sits on cost: tariffs on steel and aluminium plus energy and freight pressure are still squeezing machinery and metals margins.
This is an editorial summary written by Xinray Technology. All rights to the original report belong to Nationwide Economic Insights.
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