MAPI's quarterly U.S. Industrial Outlook report analyzes 27 major industries. The report said that manufacturing grew exceptionally quickly in the first quarter of 2013 – at a 5.2-percent annual rate. The second quarter saw a correction, with manufacturing declining at a 0.8-percent annual rate.
The alliance forecasts that manufacturing production will show a 2013 increase of 2.2 percent. This is less than the 3.1 percent forecast by the group in June 2013.
MAPI said a 2014 pickup is likely, with growth expected to be 3.2 percent – that's down from 3.6 percent in the June report. The alliance also expects manufacturing production will outperform GDP growth. It expects GDP to be 1.6 percent in 2013 and 2.8 percent in 2014.
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