, Columnist
Cracks Emerge in Manufacturing Spending Boom
Factories may be built with stone but the commitments to build them tend to be written in pencil, with plenty of wiggle room for delays.
Ford is cutting a shift at a Michigan plant where it makes the F-150 Lightning electric pickup.
Photographer: Bill Pugliano/Getty Images
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Expectations for an industrial super-cycle powered by “megatrends” and government stimulus are colliding with economic and market realities, and it’s getting harder to argue that manufacturers have transcended normal business rhythms.