US | Biden’s American Jobs Plan offers lots of fuel for growth
As proposed, President Joe Biden’s American Jobs Plan would brighten the US industrial and regional outlook. Model simulations indicate the stimulus could benefit the manufacturing and construction sectors most, raising their output around 3.5% by the end of 2023.
What you will learn:
- Our modeling indicates that the proposed American Jobs Plan (AJP) would deliver the greatest boost to the manufacturing industry, propelling faster growth by about 1.8ppts on average in 2022 and 2023. This stimulus would also create an additional 290k manufacturing jobs by year-end 2023 relative to a no-stimulus scenario.
- The AJP would also strengthen services, most significantly professional and business services. Activity in the professional and business services industry would grow 1.3ppts faster on average in 2022 and 2023.
- Among the largest state economies, California, Georgia, Michigan, and North Carolina would benefit the most. These states would experience a 1ppt increase in output growth in 2022 and 2023. At the metro level, activity in the San Francisco Bay area would receive the strongest gains.
Tags:
Related Services

Post
US: High debt costs suggest an industrial correction
The scale of the increases in debt costs, coupled with the low-yielding environment makes some repricing highly likely for gateway US industrial markets over the coming quarters.
Find Out More
Post
High debt costs suggest European office price correction
Our analysis suggests a 10% correction is needed on average for the major office markets in Europe to compensate for the higher cost of debt, with prime yields required to soften by 10bps-75bps to generate a low-risk interest coverage ratio at a reasonable LTV.
Find Out More