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Manufacturing is Expected to Expand in 2022; Revenue to Increase 9.2%; Capital Expenditures to Increase 7.4%; Capacity Utilization Currently at 87.2%

Services is Expected to Expand in 2022; Revenue to Increase 4.9%; Capital Expenditures to Increase 6.2%; Capacity Utilization Currently at 91.0%

TEMPE, Ariz., May 24, 2022 /PRNewswire/ — The U.S. economy will continue to expand for the rest of 2022, say the nation’s purchasing and supply executives in the Spring 2022 Semiannual Economic Forecast. Expectations for the remainder for 2022 are similar to those expressed in December 2021, despite continued inflation and geopolitical unrest.

These projections are part of the forecast issued by the Institute for Supply Management® (ISM®) Business Survey Committees. The forecast was presented today by Timothy R. Fiore, CPSM, C.P.M., Chair of the ISM Manufacturing Business Survey Committee, and Anthony S. Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair…

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