PMMI Infographic, White Paper Shows 4.0 Connectivity In Packaging The economic recovery in the U.S. will continue for the rest of 2021, say the nation’s purchasing and supply ex- ecutives in the ISM Spring 2021 Semiannual Economic Forecast. Expectations for the remainder for 2021 have strengthened somewhat, compared to December 2020, as there is hope that the corner has been turned on the coronavirus (COVID-19) pandemic; both manufacturing and services sectors are signaling expansion. Revenue for 2021 is expected to increase, on average, by 7.2 percent. This is 0.3 percentage point higher than the December 2020 forecast of 6.9 percent, and 8.5 percent- age points higher than the 1.3-percent decrease reported for 2020 over 2019. Fifty-nine percent of respondents say that revenues for 2021 will increase, on average, 13.8 per- cent over 2020. Only eight percent say revenues will de- crease, on average, 13 percent, and 33 percent indicate no change. With operating rate at 88.3 percent, an expected capital-expenditures increase of 8.7 percent, an expected increase of 8.1 percent in prices paid for raw materials, and an expected employment increase by 2.8 percent by the end of 2021, manufacturing continues its comeback. With all 18 manufacturing-sector industries predicting revenue growth in 2021, panelists forecast that recovery will continue the rest of the year.
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www.boardconvertingnews.com
May 24, 2021
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