ISM® REPORTS ECONOMIC IMPROVEMENT TO CONTINUE THROUGH 2023
TEMPE, Ariz., May 8, 2023 /PRNewswire/ -- The U.S. economy will continue to softly expand for the rest of 2023, say the nation's purchasing and supply executives in the Spring 2023 Semiannual Economic Forecast. Expectations for the remainder of 2023 are similar to those expressed in December 2022, despite continued inflation and geopolitical uncertainty.
- Expectations for the remainder of 2023 are similar to those expressed in December 2022, despite continued inflation and geopolitical uncertainty.
- Forty percent of respondents say that revenues for 2023 will increase, on average, 11.6 percent compared to 2022.
- "With 10 manufacturing sector industries expecting revenue growth in 2023 and 11 industries expecting employment growth in 2023, panelists forecast that recovery will continue the rest of the year, albeit somewhat softer than originally expected.
- Sentiment in each sector was generally consistent with industry performance reports in the April 2023 Manufacturing ISM® Report On Business®, as well as the fall Semiannual Economic Forecast conducted in December," says Fiore.