Posted May 18, 2016

ISM: Economic growth to continue in 2016

Economic growth is expected to continue in the United States throughout the remainder of 2016, say the nation's purchasing and supply executives.

According to the Institute for Supply Management's Spring 2016 Semiannual Economic Forecast, expectations for the remainder of 2016 continue to be positive in both the manufacturing and non-manufacturing sectors.

Fifty percent of respondents from the panel of manufacturing supply management executives predict their revenues will be 10.5 percent greater in 2016 compared to 2015, 18 percent expect a 14.2 percent decline, and 32 percent foresee no change in revenue. This yields an overall average forecast of 2.8 percent revenue growth among manufacturers for 2016. This current prediction is 1.3 percentage points below the December 2015 forecast of 4.1 percent revenue growth for 2016, but is 1.4 percent above the actual revenue growth reported for all of 2015.