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Purchasing and Supply Executives Predict Economic Growth to Continue Throughout 2011

Economic growth is expected to continue in the United States throughout the remainder of 2011, say the nation's purchasing and supply executives in their spring 2011 "Semiannual Economic Forecast" released yesterday. Expectations for the remainder of 2011 have improved in both the manufacturing and non-manufacturing sectors. These projections are part of the forecast issued by the Business Survey Committee of the Institute for Supply Management (ISM), the world's largest supply management association.

"Much of manufacturing has emerged from the economic downturn and is experiencing significant growth," said Norbert J. Ore, chair of ISM's Manufacturing Business Survey Committee. "Capacity utilization is back to typical levels and manufacturers are significantly investing in their businesses. The positive forecast for revenue growth and improved employment will drive the continuation of the recovery in the sector.

Highlights of the report include:

  • In the manufacturing sector, revenue is to increase 7.5 percent and capital investment to increase 17.9 percent; capacity utilization is at 83.2 percent.
  • In non-manufacturing sector, growth also continues in 2011, revenue is to increase 2.1 percent, and capital investment is to increase 1.4 percent; capacity utilization is at 83.7 percent.

The 17 industries reporting growth expectations in revenue during the year (listed in order) are: plastics & rubber products; fabricated metal products; primary metals; apparel, leather & allied products; machinery; computer & electronic products; transportation equipment; food, beverage & tobacco products; nonmetallic mineral products; printing & related support activities; wood products; chemical products; miscellaneous manufacturing; textile mills; electrical equipment, appliances & components; furniture & related products; and paper products.


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