America’s Factory Boom Drives Sales Surge for Excavators, Steel and Trucks

New semiconductor and battery factories boost Caterpillar, Nucor, other manufacturers

Strength in plant-construction projects helps Caterpillar and other construction-equipment makers exceed expectations of investors and industry analysts. Callaghan O’Hare/Bloomberg News

Manufacturers of construction equipment, trucks, building supplies and industrial software are still ringing up sales, despite slowdowns in other parts of the U.S. economy.

A backlog of orders stemming from supply-chain bottlenecks during the pandemic and higher demand from new factories under construction have boosted manufacturing companies, helping offset the effects of rising interest rates and weakening U.S. economic growth.

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