ISM: Manufacturing Sector Will Continue To Grow

The manufacturing sector will continue to grow through this year as investment increases slightly, according to a report released by the trade group the Institute for Supply Management (ISM). The group tracks manufacturing trends by surveying its members and reported in its semiannual forecast that manufacturing revenue is expected to grow 6.3% this year as capital investment rises 2%.

Fifteen industries said they expect revenue growth this year, including wood products, transportation equipment, electrical equipment and appliances and components.

Purchasing and supply managers said their companies are operating at 72.8% of capacity, up from 70.1% reported in December 2009. As companies ramp up production, economists expect them to hire more workers.