Manufacturing growth lags 2022 despite 0.6 percent uptick, Bob Elliott notes

Manufacturing growth lags 2022 despite 0.6 percent uptick, Bob Elliott notes
Manufacturing data trails 2022 levels

Bob Elliott, co-founder and CIO at Unlimited, observes that although manufacturing is often described as booming, hard data indicates growth is up only 0.6 percent year over year and remains below 2022 levels.

Elliott's comments highlight a gap between narrative and actual data in assessing U.S. manufacturing momentum.

Elliott has recently questioned the impact of new investment in technology, noting that AI-driven capital expenditures by large firms are producing only modest gains in key sectors. In a separate analysis, he observed that rising U.S. crude oil exports depend primarily on inventory drawdowns rather than increased output. The observations add context to his skepticism on signs of broad-based economic growth.

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