Why is manufacturing booming? In order for manufacturing activity to boom, doesn't there have to be demand at the end of the supply chain? I'm envisioning a sort of pull-demand model where consumer demand --> retailers sell more goods --> retailers demand additional supply from manufactures --> manufacuring activity.
Where is the demand for manufactured goods coming from? Are stimulus projects really doing that much? And surely it can't be investment capital goods because businesses won't invest in this environment...?
Or is my business cycle knowledge way off track?