Report: Economic growth sustainable for the rest of 2008

Industrial Distribution staff -- Industrial Distribution, 5/7/2008 7:10:00 AM

Economic growth in the United States is sustainable throughout the remainder of 2008, according to the Semiannual Economic Forecast report by the Institute for Supply Management.

The report predicts that manufacturing revenues will increase by about 1 percent this year over 2007, as 42 percent of the manufacturer respondents to the survey said they expect sales increases of 9.2 percent; 31 percent said they expect revenues to slide 9.3 percent and 27 percent said sales growth will stay flat.

“On average, respondents are concerned about their organizations' prospects for 2008," ISM Manufacturing Business Survey Committee chairman Norbert Ore said.

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