ISM Reports Economic Improvements to Continue in 2024

PRNewswire (12/15/23)

Economic improvement in the U.S. will continue in 2024, say the nation’s purchasing and supply management executives in the December 2023 Semiannual Economic Forecast by the Institute for Supply Management. Revenues are expected to increase in 15 of 18 manufacturing industries and 16 of 18 services-sector industries. Capital expenditures are expected to increase by 11.9% in the manufacturing sector (after a 14.9% increase in 2023) and increase by 2.9% in the services sector (after a 4.2% increase in 2023). Employment is expected to grow in 2024 by 2% in manufacturing and 0.8% in services. After projected growth in manufacturing and a contraction in services in the first half of the year, growth in the second half is projected to accelerate in manufacturing and strongly re-emerge in the services sector.

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