Manufacturing Pulse

Momentum in U.S. manufacturing has strengthened over the past year, with job announcements and capital investment rising while the share of stalled or canceled projects has declined sharply.

Over the trailing 12 months (TTM) ending in February, 64,080 new jobs were announced—nearly double the prior year—alongside $60.0 billion in capital investment. While this remains below the $254.1 billion peak in 2022 driven by large semiconductor projects, today’s growth reflects a broader industry mix.

Job announcements now exceed the five-year average, signaling a sector moving past its reliance on electric vehicle (EV) battery projects toward more diversified growth, led by aerospace and defense. Following the U.S. military intervention in Venezuela and ongoing conflict with Iran, and with warfare technology advancing, activity in this sector is expected to continue supporting manufacturing demand.

Read More: Savills USA | Manufacturing Pulse - March 2026