Is current economic news making you unenthusiastic about the rest of this year and 2014? The editors at The Kiplinger Letter say not to fret. Manufacturing's future in the U.S. appears to be pretty good in the near term.
In the early April newsletter, editors suggested that, even though manufacturing may appear to be losing some of its momentum this year, it will continue to be a strong driver of growth during this "feeble" economic expansion. Manufacturing growth is expected to be 2.2 percent in 2013, just a little higher than the forecast GDP growth of 2 percent, but could be greater if public pressure forces lawmakers to moderate the effects of budget cuts related to the federal sequester. In 2014 manufacturing growth could hit 3.5 percent. In fact, manufacturing production levels should reach 2007 levels in 2014.
To dig deeper into the forecast, The FABRICATOR talked with Karen Mracek, a Kiplinger Letter associate editor. (more...)