Due to supply chain constraints, labor shortages, and surging raw material costs, industrial production declined 0.7% sequentially in December and 1.7% year-over-year. However, favorable government investments are expected to boost domestic manufacturing.
Under the Bipartisan Infrastructure Law, the Biden administration announced a $185 billion investment in infrastructure, launching more than 6,900 projects, including 2,800 bridge repair and replacement projects.
