US manufacturing to continue growing in 2018 – ISM
HOUSTON (ICIS)–US manufacturing should continue expanding in 2018, with revenue rising by 5.1% and capital expenditures rising by 2.7%, the Institute for Supply Management (ISM) said on Monday.
Manufacturing employment should grow by 1.2%, the ISM said in its semi-annual economic forecast. The results are based on a survey.
Labour and benefit costs should rise by 2.1%, the ISM said. The US dollar will strengthen against all seven currencies of the nation’s major trading partners.
Prices paid for raw materials will rise by 1.3% in the first four months of 2018 before increasing by another 0.5% for the rest of the year, the ISM said. The total should lag behind 2017, which saw raw-material prices rise by 2.1%
Revenue should rise in 16 manufacturing industries, as shown below:
|Fabricated Metal Products||Primary Metals|
|Electrical Equipment, Appliances & Components||Paper Products|
|Nonmetallic Mineral Products||Textile Mills|
|Miscellaneous Manufacturing||Food, Beverage & Tobacco Products|
|Computer & Electronic Products||Furniture & Related Products|
|Transportation Equipment||Printing & Related Support Activities|
|Plastics & Rubber Products||Petroleum & Coal Products|
Overall, 67% expect 2018 will be better than 2017, while 29% think it will be the same, the ISM said.
Speak with ICIS
Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.
Want to learn about how we can work together to bring you actionable insight and support your business decisions?