Target your markets for PPE: Purchasing execs expect strong '06 finish
Economic growth in the U.S. will continue in the second half of 2006, say the nation’s purchasing and supply management executives in their spring 2006 Semiannual Economic Forecast.
These projections are part of the forecast issued by the Business Survey Committee of the Institute for Supply Management (ISM).
Expectations remain high, as 72 percent of survey respondents forecast revenues to be greater in 2006 than in 2005. Expectations are higher overall, as the panel of purchasing and supply executives now expects a 6.6 percent net increase in overall revenues for 2006 compared to their December 2005 forecast of 5.4 percent.
Industries expecting above-average improvement in 2006 are: Apparel; Electronic Components & Equipment; Glass, Stone & Aggregate; Food; Primary Metals; Instruments & Photographic Equipment; and Industrial & Commercial Equipment & Computers.
Of those surveyed, 68 percent of non-manufacturing purchasing and supply executives expect their 2006 revenues to be greater than in 2005. They currently expect a 6 percent net increase in overall revenues compared to a 5.8 percent increase reported for 2005.
Non-manufacturing industries expecting average or greater improvement in 2006 are Real Estate; Mining; Business Services; Entertainment; Construction; Transportation; Utilities; Wholesale Trade; Finance & Banking; and Retail Trade.