A U.S. trade group for purchasing executives is forecasting "same or better" performance for manufacturing in the first half of 2000 compared with the last half of 1999 based on a survey of its members. The 59th Semiannual Forecast issued by the National Assn. of Purchasing Management reports 67% of those surveyed expect the "same or better" scenario. Also noted in the report:
Manufacturing companies are expecting a 5.9% net increase in revenues for 2000.
The top three industries expecting the greatest improvement over 1999 are furniture, petroleum, and tobacco.
Capital expenditures are expected to increase by 0.7%. (A December 1999 survey predicted a decrease of 5.6%.)
Manufacturing employment is expected to increase 0.5%.
Manufacturers are most concerned about inflation, higher interest rates, material shortages, and labor availability.