The Institute of Supply Management has posted the results from its April 2011 member survey about the state of the economy. Comparing responses to those from December of 2010, we view this data of particular interest to the electrical industry:
- In the manufacturing industry, revenue will increase by 7.5% with capital investment increasing by 17.9% for the remainder of 2011. (Note: the electrical equipment industry is included in these averages.)
- 85% of respondents (including electrical equipment manufacturers) reported a 6.1% increase in prices paid during the first four months of 2011
- Half of manufacturers forecast manufacturing employment increasing while the remaining 50% expect their levels to be unchanged for the balance of the year
- Electrical equipment manufacturers indicate they will be able to pass along between 20% and 50% of their commodity or input price increases to their customers
- Fifteen manufacturing industries, including electrical equipment, are anticipating capacity increases for 2011.
The ISM report indicates that manufacturing industries are expected to grow significantly in 2011 while non-manufacturing industries will continue to grow slowly this year. With approximately 350 purchasing & supply executives across the USA responding to specific questions, this ISM report is considered by many economists to be the most reliable near-term economic barometer that’s available.
What do you see for 2011? Is your data similar to that in the ISM report? Let us know your thoughts and please LIKE this blog below. But most importantly, thank you for subscribing to EVERYTHING’S CONNECTED.
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