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For most of the past decade, there’s rarely been a great time to be a US industrial company from a stock market perspective. Just when the manufacturing economy starts to gain momentum, something gets in the way, whether it’s an oil price collapse, tariffs, Covid, supply-chain chaos, geopolitics or higher interest rates. That hasn’t stopped the optimistic narratives from coming, the latest arising from the belief that the combined effects of supply-chain shocks and the various buckets of stimulus funding targeting infrastructure and manufacturing investments will force a revitalization of US factory might and power an industrial super-cycle. Economic data suggests a reality that’s far less, well, super: US manufacturing activity shrank for the 14th consecutive month in December, extending the longest period of contraction since the dot-com bubble burst in the early 2000s, according to data released Wednesday from the Institute for Supply Management. While the S&P 500 Industrial Index rallied 16% in 2023, the broader benchmark was up 24%.

QOSHE - A 14-Month Industrial Slump Is Fuel for Deals - Brooke Sutherland
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A 14-Month Industrial Slump Is Fuel for Deals

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03.01.2024

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For most of the past decade, there’s rarely been a great time to be a US industrial company from a stock market perspective. Just when the manufacturing economy starts to gain........

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