U.S. manufacturers, services trim 2016 sales forecast, ISM says

WASHINGTON – Purchasing managers at U.S. factories anticipate sales will grow 2.8 percent in 2016, down from the 4.1 percent they forecast in December, according to a survey by the Institute for Supply Management.

Service providers estimate revenue growth of 2.4 percent, less than their prior estimate of 3.2 percent, the Tempe, Ariz.-based group’s figures showed Wednesday.

Business investment is expected to rise 1 percent in manufacturing and 6.2 percent at service industries, ISM said in its semi-annual forecast.

No posts to display