US Manufacturing to Continue Growing in 2018
US manufacturing should continue expanding in 2018, with revenue rising by 5.1% and capital expenditures rising by 2.7%, the Institute for Supply Management (ISM) said on Monday.
Manufacturing employment should grow by 1.2%, the ISM said in its semi-annual economic forecast. The results are based on a survey.
Labour and benefit costs should rise by 2.1%, the ISM said. The US dollar will strengthen against all seven currencies of the nation's major trading partners.
Prices paid for raw materials will rise by 1.3% in the first four months of 2018 before increasing by another 0.5% for the rest of the year, the ISM said. The total should lag behind 2017, which saw raw-material prices rise by 2.1%
Revenue should rise in 16 manufacturing industries, as shown below:
Fabricated Metal Products
Primary Metals
Electrical Equipment, Appliances & Components
Paper Products
Nonmetallic Mineral Products
Textile Mills
Machinery
Chemical Products
Miscellaneous Manufacturing
Food, Beverage & Tobacco Products
Computer & Electronic Products
Furniture & Related Products
Transportation Equipment
Printing & Related Support Activities
Plastics & Rubber Products
Petroleum & Coal Products
Overall, 67% expect 2018 will be better than 2017, while 29% think it will be the same, the ISM said.
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