Market Research
Chart of the Week
April 23, 2025
Chart of the Week highlights economic data and commentary from our Insights & Intelligence and Investment teams on the market trends of the day.
Since the late 2010s, the White House has sought an American manufacturing revival, starting with the auto industry and then energy and semiconductors. As shown in the chart below, capacity utilization in these strategic sectors successfully increased, but the auto industry fell behind as foreign competition grew increasingly fierce. The Trump administration believes tariffs will effectively boost American manufacturing, among other things. However, with supply chains disrupted and long-term competitiveness in question, the auto industry was hit particularly hard in recent stock market movements.
Tariff policies have been extremely fluid under the Trump administration. We will continue to monitor policy and economic dynamics to navigate the complexities of international trade and its implications for the U.S. economy.
U.S industrial capacity utilization rate
Latest is February 2025, seasonally adjusted
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