TEMPE, AZ - Economic growth is expected to continue in the United States throughout the remainder of 2010, say the nation's purchasing and supply executives in their spring 2010 Semiannual Economic Forecast. Expectations for the remainder of 2010 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 forecast was presented today by Norbert J. Ore, CPSM, C.P.M., chair of the ISM Manufacturing Business Survey Committee; and by Anthony S. Nieves, C.P.M., CFPM, chair of the ISM Non-Manufacturing Business Survey Committee, and senior vice president - supply management, Hilton Worldwide.
“Manufacturing is emerging from a period in which many companies lost significant volumes of business due to reduced demand. While excess capacity and meager capital investment are concerns, the forecast of revenue growth and improved employment will drive the continuation of the recovery,” says Ore.
The Manufacturing ISM Report on Business, compiled from responses to questions asked of approximately 350 purchasing and supply executives across the country, tracks industrial production, new orders, inventories, supplier deliveries, employment, buying policies and prices. The report has been issued by the association since 1931, except during World War II.
The Manufacturing and Non-Manufacturing ISM Report On Business is published monthly by the Institute for Supply Management. The Institute for Supply Management, established in 1915, is the largest supply management organization in the world as well as one of the most respected. ISM’s mission is to lead the supply management profession through its standards of excellence, research, promotional activities and education. The full text version of the reports is posted at www.ism.ws .
Economic Growth to Continue Throughout 2010
April 30, 2010