Factory construction in the United States is surging as more American companies consider reshoring their production. Reshoring is the process of bringing back production and manufacturing of goods to a firm’s original country.
An analysis of earnings calls and conference presentations by Bloomberg revealed CEOs indicating plans to relocate production at a greater rate in 2022 than during the first six months of the pandemic. The analysis is based on the usage of buzzwords like reshoring, onshoring, or nearshoring.
Such references are up by more than 1,000 percent compared to the pre-pandemic level. Companies have been rattled by China’s wave of extreme COVID-19 lockdowns. Construction data further strengthens the view that companies are building more manufacturing facilities in the United States….