Positive news from ISM Economic Summit
Adjust font size:
Manufacturing News, Source : The Manufacturer US
Published : 06 Jan 2003 9:59
Forty-six percent of manufacturing companies expect their business outlook for the next 12 months to be better; 38% say it will be the same, and 16% expect it to be worse.
Overall, news from the ISM’s Semiannual Economic Summit in New York City last month was positive, with manufacturing supply executives predicting economic growth for 2003. Forty-six percent of manufacturing companies expect their business outlook for the next 12 months to be better; 38% say it will be the same, and 16% expect it to be worse. ISM’s survey respondents said they expect capital expenditures to increase 4.6% next year and predict that production capacity will increase 3.7%.
“Manufacturing purchasing and supply executives are more optimistic about their organizations’ prospects for the first half of 2003 and predict additional growth during the second half,” said Norbert Ore, chair of the ISM Manufacturing Business Survey Committee, who presented the organization’s findings. Ore said that although ISM’s PMI index has “moved sideways” for the last five months, and there is not much reason to expect December to be better, signs point to a short manufacturing recession and growth in the coming year.
There is significant manufacturing capacity available, said Ore, with current capacities around 79%; in a robust economy, capacity figures of about 85% are the norm. Ore also noted that when exports begin to pick up next year, as many manufacturers predict, “it’s going to be significant for the economy.”
Top on the list of practices respondents plan to use to improve their supply chain is better inventory management, followed by improved supplier relationships, technology improvements, e-commerce initiatives, and a focus on global sourcing. For non-manufacturing companies, which also predicted growth next year, e-commerce projects were at the top of the list.
Manufacturers in the electronic components and equipment segment top the list of industries expecting increases in business next year. Second on the list is chemical manufacturers, followed by wood and wood products, transportation and equipment, and instruments and photographic equipment.
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...