Trade Group Offers Latest Sign of Faltering Factories - Real Time Economics - WSJ
The Manufacturers Alliance for Productivity and Innovation said
Wednesday that it expects manufacturing production to show just 4.5%
growth in 2012 and a 2.3% gain in 2013. In May, the group forecast 5.2 %
growth this year and a 3.3% increase next.
“While there is pent-up demand for replacing worn equipment —
it is the uncertainty about the ‘fiscal cliff,’ declining business
activity in Europe, and worries about a hard landing in China that are
holding back longer-term commitments,” said MAPI Chief Economist
add on:
The manufacturing sector has been a steady jobs engine during much
of the recovery, adding 233,000 jobs last year and 182,000 through July
of this year.
MAPI sees job growth in the sector slowing from that pace. The
group is expecting manufacturers to add 208,000 jobs in 2012 and
231,000 jobs in 2013. These figures are also well below the May forecast
of 312,000 jobs in 2012 and 361,000 jobs in 2013.
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