One day after the Commerce Department reported that the U.S. economy grew at a 1.5% rate in the second quarter, nVent, a global company with its management office in St. Louis Park, reported Friday that its second-quarter sales jumped by 53%.
The company is part of the rapidly growing data center economy—those businesses that provide products and services to build and operate data centers. In contrast, the U.S. gross domestic product figure released Thursday documented a relatively flat economy that’s burdened by inflation and the effects of the Iran War.
Sales are so robust at nVent that the company announced Friday it will add 160,000 square feet of manufacturing space at a second Blaine location to produce liquid cooling products for data centers…