NAM outlook for growth modest for remainder of 2007
An update of the report that was released in January, the National Association of Manufacturers' May 2007 Economic Report predicts an overall growth in the economy of 2.4% for the remainder of the year.
The May 2007 Economic Outlook from the National Association of Manufacturers pointed to an economy currently stuck in low gear that should accelerate slightly in the second half of 2007.
The report says the economy will grow by 2.3 percent in the second quarter before accelerating to 2.7 and 3.2 percent growth in the third and fourth quarters, respectively. Overall, the economy is forecast to grow by 2.4 percent.
“With the dollar at its lowest level since mid-1997 and solid economic growth taking place abroad, exports should continue to rise,” Huether said.
“However, when new houses aren’t going up very quickly, neither is the economy,” he added. “The ongoing downturn in housing will significantly impact some manufacturing sectors, including wood products, non-metallic minerals and
The impact of housing will be felt on the job market, where 100,000 jobs in manufacturing will be lost this year, according to the report.
Click here to view the report: www.nam.org/econoutlook .
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
- Survey Prize Winners
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey