ISM survey forecasts economic growth to continue in 2011

14/12/2010

Expections among the nation’s purchasing and supply management executives who responded to the ISM’s semiannual economic survey are for the recovery to continue through 2011. The manufacturing sector continues to “outpace the non-manufacturing sector and has greater expectations for growth in terms of revenue,” said this group. “The overall forecast projects optimism about the U.S. economy for 2011,” said the report on the survey. “The manufacturing sector, overall, is positive about prospects in 2011 with revenues expected to increase in 16 of 18 industries, while the non-manufacturing sector appears slightly less positive about the year ahead, with 12 of 18 industries expecting higher revenues.”

For the manufacturing sector, 65% of the survey respondents expect revenues to be greater in 2011 than in 2010. The panel of purchasing and supply chain executives expects a 5.6% net increase in overall revenues for 2011, compared to a 7.9% increase reported in 2010. Of the 16 manufacturing industries expecting improvement in 2010, Fabricated Metal Products came in second. Plastics and Rubber Products were eighth on the list. ...
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