Hopes for recovery hit 30-year high

22 May 2002
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23 May 2002 | Robin Parker

Confidence among US purchasers of a full manufacturing recovery is the highest for 30 years, according to the Institute for Supply Management (ISM).

In its twice-yearly forecast of purchasing activity, 68 per cent of its members in manufacturing said the outlook was better for the next 12 months.

This is the highest figure since 1972, and is reflected in the non-manufacturing sector, which expects a 2.1 per cent increase in revenues this year.

But capital spend could drop as prices are expected to rise by 2.3 per cent.

Norbert Ore, chair of the ISM manufacturing business service committee, said that despite the optimism, there were still concerns about the economic recovery, including labour and benefits costs, energy costs, inflation and import restraints.

The forecast follows a challenge to American purchasers to promote their contribution to their organisation’s bottom line savings, delivered at the ISM’s 87th international conference in San Francisco.

SMmay2002

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