U.S. Factory, Services Revenue to Rise in 2011
The U.S. manufacturing and services sectors will continue to grow this year as revenues rise, but prices for materials are seen climbing further, according to an industry forecast released on Tuesday.
The Institute for Supply Management in its semi-annual forecast found purchasing and supply executives expect manufacturing revenue will rise 7.5 percent this year. That is modestly slower than the 7.9 percent rise seen last year.
Revenue in the non-manufacturing sector, which comprises mostly service sector businesses, is expected to be up 2.1 percent, topping 2010's gain of 0.2 percent.