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The Cefa Brief

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  • PerspektiveStrategic Technology

    Diffusion rather than invention is the binding step in technological change, and no series in the record counts it

    Computer and electronic product output rose 21.1 index points between 2020 and 2025 while manufacturing output as a whole ended 2.7 points below its own 2017 base. Core capital-goods orders, the closest series in the record to the channel by which equipment reaches firms that do not make it, averaged 77 billion dollars a month in 2022 and the same in 2025.

  • PerspektiveWorkforce & Skills

    The states that make the most things are not the states with the most engineers

    Of the eight states where production work is most concentrated, four hold less than the national share of architecture and engineering jobs and two more hold barely the national share. That gap, not the incentive package, is the binding constraint on where a complex facility can be built and run.