Revenues are expected to increase in 17 manufacturing industries, and the nonmanufacturing sector predicts that 14 of its industries will see higher revenues. Capital expenditures are even expected to rise, a good outlook considering the news of late around the fiscal cliff and around lower cap-ex spending trends. The report is not as positive on employment trends, with less than 1% growth in manufacturing and only about 1.3% employment growth in nonmanufacturing.
Here is the projected growth for 2013 versus today, broken down by manufacturing and nonmanufacturing sectors:
- The group sees manufacturing growth next year, and it sees revenues increasing by about 4.6%. One interesting call is that it sees capital expenditures up by 7.6%, with capacity utilization currently at 77.5%.
- Nonmanufacturing growth is projected in 2013, with revenues rising about 4.3% and capital expenditures rising by 7%, with capacity utilization currently at 85.4%.
JON C. OGG