Economic growth in the United States will resume in 2010, say the nation's purchasing and supply management executives in their December 2009 Semiannual Economic Forecast. Expectations for 2010 are for the positive conditions experienced in the second half of 2009 to continue in manufacturing, while the non-manufacturing sector foresees marginal growth.
The manufacturing sector overall is positive about prospects in 2010 with revenues expected to increase in 13 of 18 industries, while the non-manufacturing sector appears slightly less positive about the year ahead with 8 of 18 industries expecting higher revenues. Business investment, a major driver in the U.S. economy, will decline. Both sectors expect capital spending to drop by a combined average of a 5.4 percent.
These projections are part of the forecast issued by the Business Survey Committee of the Institute for Supply Management.
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