01222018Mon
Last updateMon, 22 Jan 2018 6pm

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Manufacturing & The Economy

ISM: Manufacturing Growth Should Continue Through 2017

According to the Institute for Supply Management (ISM), 64% of respondents from the panel of manufacturing supply management executives predict their revenues will be 8.5% greater in 2017 compared to 2016, 12% expect a 9.6% decline, and 24% foresee no change in revenue. This yields an overall average forecast of 4.4% revenue growth among manufacturers for 2017. This current prediction is 0.2% below the December 2016 forecast of 4.6% revenue growth for 2017, but is 3.5% above the actual revenue growth reported for all of 2016. With operating capacity at 82.5%, an expected capital expenditure increase of 5.2%, an increase of 2.5% for prices paid for raw materials, and employment expected to increase by 1.3% by the end of 2017 compared to the end of 2016, manufacturing is positioned to grow revenues while managing costs through the remainder of the year. 

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