The Watch report is updated monthly, and the latest information that we have available shows some interesting differences between national forecasts on economic growth for 2024 and what the models are showing us. …

The Watch is a report that includes a set of predictive models covering more than 70% of US GDP. The capstone model is one that covers broad-based manufacturing overall, including both durable and nondurable manufacturing. Thus far, this model has performed well, coming in with 98.1% accuracy 3 months in advance and 98.6% accurate 6 months out. …

Over the past few decades, manufacturing jobs have been moving away from developed countries to countries with lower labor costs such as China, India, and Mexico. This offshoring trend has resulted in significant job losses and economic challenges for developed countries, particularly in the manufacturing sector. …