Economic growth in the United States will continue in 2019, say the nation’s purchasing and supply management executives in the December 2018 Semiannual Economic Forecast. Expectations are for a continuation of the growth that began in mid-2009, as indicated in the monthly ISM Report On Business. The manufacturing sector is optimistic about growth in 2019, with revenues expected to increase in 17 manufacturing industries. The non-manufacturing sector also indicates that 17 of its industries will see higher revenues. Capital expenditures, a major driver in the U.S. economy, are expected to increase by 6 percent in the manufacturing sector and by 3.4 percent in the non-manufacturing sector. Manufacturing expects that its employment base will grow by 2.4 percent, while non-manufacturing expects employment growth of 2 percent.
Manufacturing expectations for 2019 are positive, as 64 percent of survey respondents expect revenues to be greater in 2019 than in 2018. The panel of purchasing and supply executives expects a 5.7 percent net increase in overall revenues for 2019, compared to a 5.1 percent increase predicted for 2018 over 2017 revenues. The 17 manufacturing industries expecting revenue improvement in 2019 over 2018 — listed in order — are: Miscellaneous Manufacturing; Wood Products; Fabricated Metal Products; Printing & Related Support Activities; Primary Metals; Nonmetallic Mineral Products; Apparel, Leather & Allied Products; Transportation Equipment; Furniture & Related Products; Chemical Products; Electrical Equipment, Appliances & Components; Paper Products; Computer & Electronic Products; Textile Mills; Machinery; Food, Beverage & Tobacco Products; and Plastics & Rubber Products.
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