AI Data Insight
U.S. manufacturing construction spending dropped to $220.4 billion in 2025, down approximately 5.5% from the previous year's peak, ending a three-year strong uptrend driven by the CHIPS Act. As semiconductor mega-factories enter their completion phases, coupled with a wait-and-see atmosphere brought about by the new administration's tariff policies, market capital expenditures are stepping into a cooling-off period. However, the U.S. ISM Manufacturing PMI returned to expansion territory in early 2026, suggesting that subsequent demand remains somewhat resilient.