Actual factory output is up sharply and may be picking up speed, even though factory jobs have slid steadily. [View all]
Actual factory output is up sharply and may be picking up speed, even though factory jobs have slid steadily. Credit the most basic economic force of all: demand. on.wsj.com/3QLrgVU
— The Wall Street Journal (@wsj.com) 2026-04-18T16:54:32.281259Z
Capital Account
America Is in the Middle of a Stealth Manufacturing Boom
Factory jobs are down, but factory output has risen briskly. Credit goes not to tariffs, but to the most basic economic force of all: demand.

A technician works at an Amazon Web Services AI data center.
U.S. production of equipment to support the artificial-intelligence revolution is booming. Noah Berger/Associated Press
By
Greg Ip
April 18, 2026 12:00 pm ET
You wont hear this from either critics or fans of President Trumps tariffs, but theres a manufacturing revival going on.
The reason you havent heard is that it doesnt easily fit either political narrative. Critics have focused on the fact that factory jobs have steadily slid since Trump took office last year.
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