Economy
May 15, 2020
ISM Forecasts Downturn Until End of 2020
Written by Sandy Williams
The economic downturn in the U.S. will continue for the rest of this year, says the Institute for Supply Management in their Spring 2020 Semiannual Economic Forecast, based on survey responses from manufacturing purchasing and supply executives.
The COVID-19 crisis has cast a shadow over the manufacturing sector that is unlikely to lift until the end of 2020. Manufacturing revenue is expected to decrease, on average, by 10.3 percent in 2020 compared to the 4.8 percent gain previously expected.
