U.S. Factory, Services Revenue to Grow in 2014

Reuters
Updated
ISM Manufacturing
AP

By Steven C. Johnson

NEW YORK -- The U.S. manufacturing sector is forecast to grow again next year, with both revenue and investment increasing, an industry report showed Tuesday.

Manufacturing revenue is expected to rise by 4.4 percent in 2014 from the year before, the semi-annual forecast from the Institute for Supply Management said.

Revenue in the non-manufacturing sector, which is made up mostly of service sector businesses, is expected to rise by 3.6 percent.

Capital investment among manufacturing firms is seen rising 8 percent in 2014 and increasing by 4.6 percent in the service sector.

The projections are issued by ISM's Business Survey Committee.

Originally published