Some evidence that suggests the reshoring of manufacturing is real: First, America is bringing factory jobs home at a historic rate. According to one estimate, the U.S. is on pace to reshore 350,000 jobs in 2022, the highest total on record and an increase from roughly 260,000 last year. Second, the construction of new U.S. [...]

The U.S. economy shrank 6% at the annual rate in the second quarter, extending the decline of 1.6% in the first quarter. The current forecast is for 0.8% growth in real GDP in the third quarter, with 1.6% annual growth in 2022. In 2023, the outlook is for 1.0% growth, but that forecast has sizable [...]