Economic growth in the U.S. is expected to continue through the year, according to a survey of purchasing and supply executives.
A Tuesday semiannual economic forecast from the Institute for Supply Management show expectations have improved for manufacturing for the remainder of 2011.
On the manufacturing side, the report projects revenues will increase 7.5 percent and capital investments will increase nearly 18 percent. It also shows that operating capacity at plants has topped 83 percent, the highest level since Dec. 2006 and an increase from about 80 percent at the end of last year.
“Much of manufacturing has emerged from the economic downturn and is experiencing significant growth,” said Norbert Ore, chair of the institute’s manufacturing business survey committee, in a statement. “Capacity utilization is back to typical levels and manufacturers are significantly investing in their business.”