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Manufacturers Will Lead 2012 Growth

Posted 9:18 PM by

A recent report from the Institute for Supply Management (ISM) has indications that the manufacturing sector will lead growth in the overall economy during 2012. The ISM report shows that most manufacturing forecasting plans show growth in purchases (an anticipated 5.5% growth for 2012) and in capital investment (an anticipated 1.9$ growth for 2012. While growth during 2012 is anticipated, it might not be to the same extent as what actually occurred in 2011. However, growth is growth, and it is far better than the alternative. The ISM report is also forecasting an increase in sales of approximately 7% and an increase in employment of approximately 1.3% for 2012.

“Manufacturing has demonstrated its resilience throughout this challenging economic recovery period, with consistent growth dating back to August of 2009,” Bradley Holcomb, chairman of the group’s factory survey, said in a statement. Manufacturers “expect to see continued growth in 2012.”

About the Author

Justin Hayes is a director in Katz, Sapper & Miller’s Audit and Assurance Services Group as well as being a member of the Not-for-Profit and Governmental Services Groups. Justin works with clients to help them avoid risk and maximize efficiencies by keeping an eye on their bottom line and helping ensure accurate financial reporting. Connect with him on LinkedIn.

Comments (1)
Stuart Rosenberg wrote
Food for Thought: How many manufacturers took part in the survey? Were they US manufacturers, overseas manufacturers or a combination? What types of manufacturers - hard goods, soft goods, light or heavy manufacturing?
Any one or group can throw numbers or percentages around but where is the hard data to back these claims?
Posted Dec 17 2011 2:22 PM
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