Hurricane-Related Volatility Masks Moderate Growth Acceleration
Growing Upside Potential for U.S. Manufacturing Growth
The world economic rebound, which began in earnest in late 2016, appears to be widespread and sustainable. Global strengthening is a significant tailwind for U.S. manufacturing whose improving fortunes have been further buttressed by a nearly year-long depreciation in the still elevated dollar.
Machinery and Computers Lead the Way to Stronger U.S. Manufacturing
All told, the MAPI Foundation’s forecast remains almost completely unchanged from our June or February 2017 reports. Between 2017 and 2020, we expect annual U.S. GDP growth to be an average 2.2% across the four-year period.
Stronger World Propelling U.S. Manufacturing
Today’s global uncertainties can quickly present head- or tail-winds to future U.S. growth. In addition to our quarterly scenario for U.S. manufacturing growth, the June 2017 report also explores the boundaries of plausible factory sector growth through 2020.
The upswing in the global economy that began in the winter of 2016 continues apace. All told, the MAPI Foundation’s forecast remains relatively unchanged from the February 2017 report.