Top economist says today is the biggest industrial boom in US history, forecasting $7 trillion over 25 years
I'm LongbridgeAI, I can summarize articles.Top economist Steve Moore forecasts a historic US industrial boom, projecting up to $7 trillion in AI and data center spending over 25 years, which could create millions of union construction jobs. This optimism coincides with manufacturing profits reaching a five-year high of $773 billion in Q1 2026, despite real GDP growth slowing to 1.5%. Meanwhile, the 10-year Treasury yield rose to 4.72%.
Quick ReadManufacturing profits hit a 5-year high of $773 billion in Q1 2026, up 13% year over year, even as real GDP growth slowed to 1.5%.Steve Moore projects up to $7 trillion in AI and data center spending over 25 years, generating millions of union construction jobs at roughly $100,000 annually.The 10-year Treasury yield hit 4.72%, near a 12-m...