Our work suggests that the U.S. is about to experience in increase in domestic industrial production that is set to last for years to come. The U.S. is poised for an industrial renaissance based on:
-         a very strong starting point,
-         a large and growing labor force,
-         a high degree of economic freedom,
-         deep financial markets to finance capital investments,
-         continued fracturing of global trade,
-         increased investment in industrial plant and equipment,
-         increased spending on research and development

While near-term economic challenges persist and may intensify over the coming months, long-term trends in labor force growth, economic freedom, and business investment remain exceedingly positive. Putting all this together leads us to believe that the U.S. is about to embark on a new era of economic growth driven by a growing and increasingly productive private sector.