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Manufacturing Sector Will Grow This Year

As investment grows this year, so, too, will the manufacturing sector, according to a report released yesterday by trade group the Institute for Supply Management.

Manufacturing revenue is predicted to grow 6.3 percent this year, while capital investment will rise 2 percent. Fifteen industries reported that they expect revenue growth this year, including wood products, transportation equipment, electrical equipment, appliances, and components.

Companies are operating at nearly 73 percent of capacity, up from 70.1 percent in December 2009, according to purchasing and supply managers. Economists expect companies who increase their manufacturing to add employees.

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