Business production spending has seen its highest climb since 1997, when accounting for post-COVID reopenings, the Trump administration has announced in a release obtained by Blaze News.
Capital expenditures — or capex, which refer to what companies spend on their research and development, software, transportation, and more — are a great way to gauge how much businesses are expanding or developing their operations.
Additionally, real wages are also rising, according to the Trump administration, and the growth speed in 2025 has been outpaced by only one previous administration.
‘Trump is a real idea man. Everything in his plan is interconnected.’
Business equipment production jumped 11% in Q2 2025 after already garnering a 23% gain in Q1, which marks the strongest growth since 1997, the announcement said.
“President Trump’s capex comeback has clearly been generated by the One Big Beautiful Bill,” Joe Lavorgna, counselor to Treasury Secretary Scott Bessent, told Blaze News. “Businesses trusted from the get-go that President Trump would implement positive policies, and they implemented them sooner rather than later. This caused the growth we’ve seen in both quarters.”
Capex are up over 16% in the first half of 2025, the administration explained, noting that there is a major wave of investment in American industry already under way.
Another strong factor the administration pointed to was the growth of blue-collar wages. Lavorgna said that President Trump had one former president he had to compete with in this regard: himself.
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“Real wages are rising at a very fast pace. The second fastest ever, second only to President Trump in 2017,” Lavorgna told Blaze News.
Secretary Bessent said on X that thanks to Trump’s policies, real wages for hourly workers are up nearly 2% in the first five months of Trump’s second term. This marks the strongest growth in the category in 60 years.
Lavorgna added, “The ‘big, beautiful bill’ was designed to encourage high-tech manufacturing, and the fact that wages for non-supervisory production workers are going up, that means we’re making the right moves.”
In comparison, President Biden saw a 1.7% decline, while Presidents Barack Obama, George W. Bush, Bill Clinton, George H.W. Bush, and Ronald Reagan all saw negative growth in real wages.
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Lavorgna stressed that the Trump administration wants to bring high-value manufacturing jobs back to the United States, and at the same time, ramp up production in certain industries to become a worldwide leader.
This includes the artificial intelligence race, which has seen significant investment that has since spawned data centers and campuses. These campuses and centers employ more people and need more energy brought to them, providing employment to even more people.
“Trump is a real idea man. Everything in his plan is interconnected; it’s the real deal,” Lavorgna added.
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Author: Andrew Chapados
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