The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts that inflation-adjusted gross domestic product (GDP) will expand by 1.6% in 2011 and by 2.1% in 2012. The 2011 forecast represents a downgrade over the previously estimated 2.7% growth, while the 2012 forecast is down from 2.9% growth anticipated in the May 2011 quarterly report.
Manufacturing production will outpace the overall economy and is expected to show 4.1% growth in 2011 and 3.2% growth in 2012. Both figures have been adjusted downward from MAPI’s May forecast of 6.2% and 4.2%, respectively. Manufacturing is expected to see a hiring increase with the sector forecast to add 270,000 jobs in 2011 and 273,000 jobs in 2012.
Learn more about the Manufacturers Alliance/MAPI Quarterly Economic Forecast