Manufacturers Optimistic About 2010
A survey of purchasing and supply management executives in manufacturing industries across the country shows they believe growth that started in 2009 will continue into 2010.
Overall, they believe that revenues in 2010 will increase 5.7 percent over 2009, compared with revenues declining 10.7 percent in 2009 over 2008. Manufacturers said they were operating at 70.1 percent of their capacity, compared with 67 percent in April 2009.
The 13 manufacturing sectors expecting monetary improvements in 2010 are transportation equipment; nonmetallic mineral products; printing and related support activities; computer and electronic products; paper products; electrical equipment, appliances and components; apparel, leather and allied products; food, beverage and tobacco products; chemical products; machinery; miscellaneous manufacturing; textile mills; and fabricated metal products.
“While 2009 has been a challenging year overall, we are in a growth trend as we approach the end of the year,” said Norbert Ore, chair of the Institute for Supply Management Manufacturing Business Survey, which polled the executives.
Things weren’t quite as rosy with the purchasing and supply management executives in the non-manufacturing sector. For 2010, they expect only a 1.3 percent uptick in revenues over 2009. 2009 saw a 4.5 percent decrease over 2008.
This sector was operating at 81.3 percent of capacity, compared with 80.1 percent in April 2009.
The eight non-manufacturing industries expecting revenue improvements in 2010 are real estate; rental and leasing; professional, scientific and technical services; finance and insurance; wholesale trade; retail trade; information; and agriculture, forestry, fishing and hunting.—Deborah Belgum
