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robotics and automation technology in order to achieve desired levels of productivity with reduced headcount .
Secondly , although current shipment data from the Census Bureau is very positive and usually strongly correlates to the annual manufacturing survey ( ASM ), our latest forecasts anticipate a shallow recession in the US during 2024 , which will constrain manufacturing growth in the short-term . Inflation rates are set to ease over time , with the US Government using interest rate hikes to reduce inflationary pressure . However , there is concern that inflation is becoming entrenched , and , if we look at the bond yields , we are now seeing an inversion larger than before any other slowdown in the last ten years . With the possibility that short-term interest rates have exceeded what the market can reasonably bear , this is likely to spark a shallow recession . Because the consumer debt position is better than it was in the 2009 recession , the economy and manufacturing are expected to return to growth in 2025 .
It also remains to be seen how Europe will respond to the US manufacturing incentives , although it has clearly got Brussels rattled , with officials reportedly planning to propose
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