2017 Expected To Be A Healthy Year For U.S Industrial Production
Buoyed primarily by upticks in mining and manufacturing, U.S. industrial production is expected to overtake 2016’s numbers in 2017 reports economic research and consulting firm ITR Economics in the April 2017 edition of The ITR Advisor. ITR also notes that other indicators, including the U.S. Purchasing Managers Index, U.S. corporate profits and the U.S. Total Industry Capacity Utilization Rate, also point to growth in the economy this year.
Economic growth in 2016 was driven in large part by the U.S. consumer and businesses that serve them directly, but ITR expects industry-facing segments of the economy to accelerate over the next eight monthsas well. Healthy U.S. corporate profits should lead to an increase in business investments this year and next as well. ITR also notes that rising demand in the global economy this year will boost commodity prices and consumer spending.
In its breakdown of various industries, ITR reports that U.S. wholesale trade for the year ending in February was up 1.5 percent, and average manufacturing production for the same 12-month period increased 0.3 percent and is accelerating. However, it notes that manufacturing sector segments associated with commodities and industrial activity will see cyclical decline in 2018 and 2019.
ITR offers economic information, insight, analysis and proactive strategies, and in collaboration with PPAI, the company produces data for the promotional products industry to help members improve their businesses. Its quarterly Market Outlook Reports for the promotional products industry contain industry indicators, market analysis, advertising industry forecasts and a promotional products industry forecast.