Econintersect: According to the semi-annual forecast issued by the Business Survey Committee of the Institute for Supply Management (ISM), USA economic growth will continue in 2013.
Manufacturing Growth Expected In 2013
- Revenue to Increase 4.6%
- Capital Expenditures to Increase 7.6%
- Capacity Utilization Currently at 77.5%
Non-Manufacturing Growth Projected in 2013
- Revenue to Increase 4.3%
- Capital Expenditures to Increase 7%
- Capacity Utilization Currently at 85.4%
Can one have confidence in this forecast? Here is a look at their December 2007 forecast:
ECONOMIC GROWTH TO CONTINUE IN 2008
Manufacturing Growth Expected in 2008
- Revenue to Increase 6.8%
- Capital Expenditures to Increase 0.7%
- Capacity Utilization Currently at 82.9%
Non-Manufacturing to Maintain Growth
- Revenue to Increase 2%
- Capital Spending to Decrease 6.3%
- Capacity Utilization Currently at 86.4%
(New York, NY) — Economic growth in the United States will continue in 2008, say the nation’s purchasing and supply management executives in their December 2007 Semiannual Economic Forecast.Expectations for 2008 are at a higher level for the manufacturing sector than the non-manufacturing sector. The non-manufacturing sector is projecting moderate growth. The manufacturing sector has a higher level of optimism about 2008, with revenues expected to grow more than in the non-manufacturing sector.
And here is the survey results in May 2008 (1/3 of the way through the Great Recession):
ECONOMIC GROWTH TO CONTINUE THROUGHOUT 2008
Manufacturing Growth Marginal in 2008
- Revenue to Increase 1%
- Capital Investment to Increase 1%
- Capacity Utilization at 78.6%
Non-Manufacturing Growth Sustainable in 2008
- Revenue to Increase 2.7%
- Capital Investment to Decrease 2.7%
- Capacity Utilization at 85.9%
(Tempe, AZ) — Economic growth in the United States is sustainable throughout the remainder of 2008, say the nation’s purchasing and supply executives in their spring 2008 Semiannual Economic Forecast. Expectations for the remainder of 2008 are encouraging in both the manufacturing and non-manufacturing sectors.
sources: ISM Survey for December 2012, December 2007, May 2008
