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Forecast Calls for 4.8% Manufacturing Growth in 2020

Manufacturing growth on 2020 by Institute for Supply Management

The Institute for Supply Management (ISM) expects the manufacturing sector to grow by 4.8% in 2020. According to its December 2019 Semiannual Economic Forecast, the ISM says it expects growth in all 18 of the manufacturing segments analyzes.

58 percent of survey respondents expect revenues to be greater in 2020 than in 2019. The panel of purchasing and supply executives expects a 4.8-percent net increase in overall revenues for 2020, compared to a 1.9-percent increase predicted for 2019 over 2018 revenues. All 18 manufacturing industries expect revenue improvement in 2020 over 2019, listed in order: Fabricated Metal Products; Food, Beverage & Tobacco Products; Apparel, Leather & Allied Products; Paper Products; Furniture & Related Products; Chemical Products; Wood Products; Computer & Electronic Products; Miscellaneous Manufacturing; Machinery; Transportation Equipment; Electrical Equipment, Appliances & Components; Plastics & Rubber Products; Primary Metals; Printing & Related Support Activities; Textile Mills; Petroleum & Coal Products; and Nonmetallic Mineral Products.

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