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US manufacturers see higher 2020 sales despite trade cloud

Added 12-09-19 12:04:02pm EST - “US manufacturers expect a bounce in revenues in 2020 despite lingering unease over trade tariffs that are prompting supply chain shifts, according to an industry survey released Monday. The semi-annual survey painted a mixed picture…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “US manufacturers see higher 2020 sales despite trade cloud”. Below is an excerpt from the article.

New York (AFP) - US manufacturers expect a bounce in revenues in 2020 despite lingering unease over trade tariffs that are prompting supply chain shifts, according to an industry survey released Monday.

The semi-annual survey painted a mixed picture for US manufacturers overall, with companies forecasting flat employment and lower capital spending but higher overall sales.

That could spell at least some relief for a sector hit hard by President Donald Trump's trade war with China, and that country's slowing economy.

The projected 4.8 percent bump in manufacturing revenues was "one of the more surprising" figures in the semi-annual survey, said Timothy Fiore of the Institute for Supply Management, which released the report.

Fiore noted that manufacturers had overestimated sales in the last survey in May, projecting that 2019 revenues would rise 4.0 percent. At this point the increase is expected to come in at 1.9 percent, the report said.

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