US manufacturing construction spending in December 2026
Short Answer
1. Market Behavior & Drivers
- CHIPS and IRA acts drive multi-year manufacturing construction projects.
- 2026 manufacturing construction spending projected to reach $220 billion.
- Elevated spending is expected to sustain despite post-election policy uncertainty.
- 2024 election results pose significant risk to CHIPS/IRA continuation.
- US pharmaceutical construction investment exceeds $370 billion since 2020.
Who Wins and Why
| Outcome | Market | Model | Why |
|---|---|---|---|
| Above $180 billion | 15.0% | 13.4% | Market higher by 1.6pp |
| Above $190 billion | 16.0% | 13.4% | Market higher by 2.6pp |
| Above $220 billion | 7.0% | 5.0% | Market higher by 2.0pp |
| Above $200 billion | 13.0% | 10.9% | Market higher by 2.1pp |
| Above $210 billion | 11.0% | 8.0% | Market higher by 3.0pp |
2. Price Chart
Historical Price (Probability)
3. Significant Price Movements
Notable price changes detected in the chart, along with research into what caused each movement.
📈 April 26, 2026: 8.0pp spike
Price increased from 41.0% to 49.0%
Outcome: Above $160 billion
4. Market Data
Contract Snapshot
This market resolves to YES if the Total Construction Spending: Manufacturing in the United States for December 2026 is above $160 billion, verified by FRED. Conversely, it resolves to NO if the spending is $160 billion or less. Trading opened on April 23, 2026, and the market will close early upon the release of the economic data, or by February 1, 2027, at 9:59 am EST if the data is not released earlier, with payout projected 30 minutes after closing.
Available Contracts
Market options and current pricing
| Outcome bucket | Yes (price) | No (price) | Last trade probability |
|---|---|---|---|
| Above $140 billion | $0.78 | $0.28 | 78% |
| Above $190 billion | $0.17 | $0.92 | 16% |
| Above $180 billion | $0.24 | $0.85 | 15% |
| Above $200 billion | $0.10 | $0.97 | 13% |
| Above $210 billion | $0.08 | $0.98 | 11% |
| Above $220 billion | $0.08 | $0.95 | 7% |
| Above $130 billion | $0.95 | $0.13 | 0% |
| Above $150 billion | $0.63 | $0.46 | 0% |
| Above $160 billion | $0.50 | $0.59 | 0% |
| Above $170 billion | $0.32 | $0.77 | 0% |
Market Discussion
Limited public discussion available for this market.
5. Trust Index
Order book is critically thin.
Primary risk· Trade quality
Market integrity is low (50), but Integrity averages all three scores, so the other two pull it up. Only a critically low score would cap the total.
Includes the cost to trade: a $1,000 order can't be filled here because the order book is too thin.
Weighted blend with hard caps — a critically weak safety pillar, or a severe trading anomaly, caps the total regardless of the rest. Full methodology · About the Trust Index
6. How is CHIPS Act Capex Distributed Over 2024-2026 and Beyond?
| Total Announced Private Investment (post CHIPS Act) | $460 billion [1] |
|---|---|
| CHIPS Program Office Major Funding Decisions Target | Early 2025 [2] |
| LG Energy Solution Mass Production Target | First half of 2026 [3] |
Sources (4)
- 1https://www.gao.gov/assets/gao-26-107882.pdfgao.gov
- 2https://www.nist.gov/system/files/documents/2025/01/10/The%20CHIPS%20Program%20Office%20Vision%20for%20Success%20-%20Two%20Years%20Later.pdfnist.gov
- 3LG Energy Solution’s $5.5 Billion Stand-Alone Battery Manufacturing Complex Project in Arizona Well Underway - BATTERY INSIDEinside.lgensol.com
- 4Micron Announces Groundbreaking for Historic New Yorkglobenewswire.com
7. How Has Industrial Construction Backlog Fluctuated Recently?
| Industrial CBI (Sep 2025) | 7.1 months [1] |
|---|---|
| Industrial CBI (Dec 2025) | 6.8 months [2] |
| Industrial CBI (Feb 2026) | 7.7 months [3] |
Sources (7)
- 1News Releasesabc.org
- 2News Releasesabc.org
- 3News Releases | ABC’s Construction Backlog Indicator Rebounds inabc.org
- 4News Releases | ABC’s Construction Backlog Indicator Falls To Fouabc.org
- 5News Releases | Construction Backlog, Contractor Confidence Outpaabc.org
- 6Army Moves Ahead With Delay-Plagued General Dynamics Ammo Plant - Bloombergbloomberg.com
- 7Plug Power hydrogen project at Western NY industrial park is dead: Investigative Postinvestigativepost.org
8. What Are U.S. Manufacturing Construction Spending Projections?
| Pharmaceutical/Biotech Investment | Over $370 billion (since 2020) [1] |
|---|---|
| Total US Mfg. Construction Spending | Approximately $220 billion (2026 projection) [2] |
| Clean Energy/Defense Mfg. Construction | Specific aggregate value and 2026 spending projections not detailed (Dodge Construction Network reports) [1] |
Sources (3)
9. What Fate Awaits IRA and CHIPS Acts After the 2024 Election?
| Trump's Stance | Plans to "kill" the CHIPS Act and repeal the IRA [1] |
|---|---|
| CHIPS Act Funding | $52.7 billion allocated for semiconductor subsidies [1] |
| IRA Tax Credits | House Republicans propose eliminating some clean energy tax credits [2] |
Sources (7)
- 1Trump wants to kill $52.7 billion semiconductor chips subsidy law | Reutersreuters.com
- 2IRA Clean Energy Tax Credits in House GOP Bill: 5 Things to Knowtaxfoundation.org
- 3Clean Energy Tax Credits and After the Election - What to Expect? | Crowell & Moring LLPcrowell.com
- 4The Rural Energy for America Program primarily benefits Republican congressional districts | Brookingsbrookings.edu
- 5Leader Schumer Statement On The Bipartis... | The Senate Democratic Caucusdemocrats.senate.gov
- 6Media Relations Officenews.cornell.edu
- 7Republicans in no rush to follow Trump's push to repeal CHIPS Actnbcnews.com
10. Can We Analyze Manufacturing Construction Data Revisions During High Interest Rates?
| Data Source | U.S. Census Bureau's "Value of Construction Put in Place, Manufacturing" [1] |
|---|---|
| Revision Process | Subject to routine revisions between advance estimate and final figures [1] |
| Historical Revision Data Availability | Not available in provided sources for 36-month analysis [1] |