U.S. 2013 Economic Growth to Continue Say Logisticians

Press Release
Wednesday, May 01, 2013

The Business Survey Committee of the Institute for Supply Management™ (ISM) forecast is bullish for the rest of 2013.

Economic growth is expected to continue in the United States throughout the remainder of 2013, say the nation's purchasing and supply executives in their spring 2013 Semiannual Economic Forecast. Expectations for the remainder of 2013 continue to be positive 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 by Bradley J. Holcomb, CPSM, CPSD, 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.

Manufacturing Summary
Sixty-six percent of respondents from the panel of manufacturing supply management executives predict their revenues will be 9.9 percent greater in 2013 compared to 2012, 12 percent expect a 14.6 percent decline, and 22 percent foresee no change. This yields an overall average expectation of 4.8 percent revenue growth among manufacturers in 2013, which is a slight increase of 0.2 percentage point from December 2012 when the panel predicted a 4.6 percent increase in 2013 revenues. With operating capacity at 80.2 percent, an expected capital expenditure increase of 9.1 percent, prices paid expected to increase a modest 0.9 percent from now through the end of 2013, and employment expected to grow only 0.9 percent for the balance of 2013, manufacturers are positioned to grow revenues while containing costs through the remainder of the year.

"With 17 out of 18 industries within the manufacturing sector predicting growth in 2013 over 2012, U.S. manufacturing continues to demonstrate its broad-based strength, efficiency and leadership in the world economy," said Holcomb.

Non-Manufacturing Summary
Fifty-six percent of non-manufacturing purchasing and supply executives expect their 2013 revenues to be greater by 7.9 percent than in 2012. Overall, respondents currently expect a 3.5 percent net increase in overall revenues, which is less than the 4.3 percent increase that was forecast in December 2012. "Non-manufacturing will continue to grow for the balance of 2013.

Non-manufacturing companies continue to do more with less as evidenced by the high percentage of capacity utilization. Strategic cost management has been of paramount importance for supply managers. This is indicated by the minimal percentage increase in prices despite the volatility of various commodities.

The slowing in the rate of increase for overall employment is a potential challenge. However, with 15 out of 18 industries forecasting increased revenues, the non-manufacturing sector will continue on the path of economic growth and recovery," Nieves said.

The full text version of the reports is available here.
 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dittmann Named Chairman of SEA Europe

Kjeld Dittmann, the Managing Director of Lyngsø Marine A/S, is the new Chairman of the European Ships and Maritime Equipment Association (SEA Europe).    He succeeds Govert Hamers,

Ex-BP Engineer Deserves New Gulf Spill Trial -US Appeals Court

A former BP Plc engineer deserves a new trial on an obstruction of justice charge related to the 2010 Gulf of Mexico oil spill, a federal appeals court ruled on Tuesday.

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Finance

Monopiles Terminal to Be Built in Rotterdam

Sif and Verbrugge to build terminal for offshore wind energy on Maasvlakte 2   Sif Group, Verbrugge International and the Port of Rotterdam Authority have signed

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Teekay Sells FPSO, Announces Dividend Boost

Teekay Corporation to complete sale of the Knarr FPSO and announces dividend increase of 75 percent   Teekay Corporation announced today that its board of directors

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1614 sec (6 req/sec)