Manufacturing Expected to Expand in 2011, ISM Reports
12/08/2010
"Manufacturing purchasing and supply executives have expectations for continued growth and are optimistic about their organizations' prospects as they consider the first half of 2011, and they are even more positive about the second half," said Norbert J. Ore, CPSM, C.P.M., chair of the ISM Manufacturing Business Survey Committee. "While 2010 has been a year of recovery in manufacturing, our forecast sees improvements in both investment and employment in 2011. Respondents expect cost pressures in 2011 to be somewhat greater than in 2010. Manufacturing growth is now in its 16th consecutive month as measured by and reported in the monthly Manufacturing ISM Report On Business."
Sixty-five percent of surveyed manufacturers expected higher revenues in 2011 than they earned in 2010. Those surveyed estimated a 5.6 percent net growth in overall 2011 revenues.
Manufacturing respondents said they were operating at 80.2 percent of normal capacity, an increase of 72.8 percent in April 2010. They also expected to reduce inventories and see manufacturing sector employment rise by 1.8 percent in 2011.
Purchasing and supply executives surveyed expected to increase capital expenditures by 14.5 percent in 2011, up from the 5.9 percent they predicted in 2010.
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
Midwest becomes hotspot for semiconductor manufacturing and supply industries
Q2 2024