Non-Manufacturing Economic Growth Will Continue Through 2012Posted: May 8, 2012
During the Business Survey/ Economic Outlook presentation on Tuesday morning, projections regarding the economic growth of the non-manufacturing sector were positive. According to the 2012 Semiannual Forecast, a 4.8% net increase in revenue is expected for overall revenues. “Non-manufacturing will continue to grow for the rest of 2012,” said Anthony S. Nieves, C.P.M., CFPM, chair of the Non-Manufacturing Business Survey Committee (NMBSC). “Hopefully, this will translate into an increase in the employment rate, as well.”
Speaking of employment, respondents to the NMBSC’s survey forecast that employment will increase 1.9 % during the balance of 2012. However, 59% expect their employment levels to remain unchanged.
Overall, non-manufacturing companies are currently operating at 85.2 % of normal capacity, with production capacity expected to increase 3.3% in 2012. Prices paid increased 1.8 % through the end of April 2012, and capital expenditures are expected to increase 3.6 % in 2012.
For more details about both the Non-Manufacturing and Manufacturing Reports on Business, you can view full texts of these reports on www.ism.ws on the first and third business day of each month.