Quarterly Forecast: Exports Brighten Manufacturing Outlook
Hopes for something more than a temporary rebound in the U.S. economy anytime soon could be frustrated, but the manufacturing outlook in particular might be somewhat brighter due to continuing strength in exports, according to a new report.
The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts that inflation-adjusted GDP growth will slow to 1.3% in 2008 before improving to 1.9% in 2009. The 2009 forecast is down from 2.5% projected in the February outlook. By supplying major assumptions for the economy and running simulations through the Global Insight Macroeconomic Model, the Alliance generates unique macroeconomic and industry forecasts.
The 2008 recession looks like it is going to be milder and more prolonged rather than normal,”said Daniel J. …
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