Investment by manufacturers in plants and other production facilities surged almost 63% in 2023, the largest annual advance since 1951, according to the government’s latest report on gross domestic product. The increase has its roots in companies taking advantage of federal incentives and making up for deferred spending during the pandemic when supply chains were in disarray. Purchasing and supply executives expect outlays to increase almost 12% this year after rising by nearly 15% in 2023, according to the Institute for Supply Management’s latest semiannual economic forecast. While factories are dialing back the pace of investment, S&P Global Market Intelligence sees spending in the sector still climbing $54 billion after an estimated $50.6 billion last year.
- Date Posted:
- January 26, 2024
Mr Biden is a clear outlier in terms of the number of undocumented, or illegal, migrants crossing the border. During his presidency there have been record numbers of apprehensions and expulsions at the border; nearly 250,000 people crossed in November alone. The Pew Research Centre reckons that there were 10.5m illegal immigrants in 2021, the latest year available. That is roughly the same as in 2017 and fewer than in any other year between 2005 and 2015. It also puts illegal migrants at roughly 3% of people living in America and 22% of the country’s foreign-born population—the lowest shares since the 1990s. This data does not include estimates since the latest wave of encounters at the border; some 600,000 people are thought to have slipped through undetected in 2023.