The author critiques Greg Ip's assertion of a "stealth manufacturing boom" in the U.S., arguing that while manufacturing production has increased, the overall trend shows stagnation in manufacturing jobs and output when adjusted for inflation. They emphasize that the supposed revival is misleading and reflective of a longer-term decline in the manufacturing sector.
The claim of a "stealth manufacturing boom" in the U.S. is misleading when adjusted for inflation and broader economic trends. Despite a reported rise in manufacturing production and shipments, these figures do not account for inflation, and the data suggests continued stagnation since 2008. This insight highlights the importance of considering inflation-adjusted metrics when evaluating economic narratives, especially in sectors like manufacturing that are often impacted by tariffs and broader geopolitical dynamics.