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MNI INTERVIEW: ISM Miss Doesn't Signal Recession - Mfg Chief

(MNI) Washington
WASHINGTON (MNI)

Supply constraints may help to lengthen manufacturers' expansionary cycle, ISM chief says.

U.S. manufacturers are experiencing weaker business growth in the face of global disruptions but the sector will likely sustain moderate growth levels through 2023, and renewed supply troubles may actually lengthen the expansion as demand persists, Institute for Supply Management chair Timothy Fiore told MNI Monday.

"If you look at the headline number you could say that there's indication that it would" lead to recession fears, Fiore said. "But, no, absolutely not. There's no end to demand here. We're still seeing 3-to-1 positive comments on demand" from manufacturers.

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U.S. manufacturers are experiencing weaker business growth in the face of global disruptions but the sector will likely sustain moderate growth levels through 2023, and renewed supply troubles may actually lengthen the expansion as demand persists, Institute for Supply Management chair Timothy Fiore told MNI Monday.

"If you look at the headline number you could say that there's indication that it would" lead to recession fears, Fiore said. "But, no, absolutely not. There's no end to demand here. We're still seeing 3-to-1 positive comments on demand" from manufacturers.

Keep reading...Show less