Manufacturing Growth Forecasted for 2011
The U.S. manufacturing sector will grow in 2011, with manufacturing revenue increasing by 5.6%
The U.S. manufacturing sector will grow in 2011, with manufacturing revenue increasing by 5.6% according to the Institute for Supply Management (ISM) semi-annual forecast released.The overall forecast projects optimism about the U.S. economy for 2011. The manufacturing sector, overall, is positive about prospects in 2011 with revenues expected to increase in 16 of 18 industries. ISM also predicts that business investment, a major driver in the U.S. economy, will increase substantially in the manufacturing sector.
The 16 manufacturing industries expecting improvement over 2010 — listed in order — are: Primary Metals; Fabricated Metal Products; Petroleum & Coal Products; Apparel, Leather & Allied Products; Transportation Equipment; Miscellaneous Manufacturing; Furniture & Related Products; Plastics & Rubber Products; Machinery; Textile Mills; Wood Products; Electrical Equipment, Appliances & Components; Food, Beverage & Tobacco Products; Printing & Related Support Activities; Chemical Products; and Paper Products.
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