Manufacturing production grew 1.8% in 2015. We predict manufacturing production will increase 2.6% in 2016, 3.0% in 2017, and 2.8% in 2018. At that point, any output gap from the 2008-2009 recession will have closed and manufacturing growth will slow down to potential. The forecast is for growth of 2.6% in 2019 and 2.0% in 2020.
MAPI’s Tax Accounting Forum is returning with more dynamic and interactive sessions than ever before! This one-day event will give participants the opportunity to hear presentations from leading accounting executives. We will have breakfast at 7:30 am and plan for the meeting to begin promptly at 8:30 am. The meeting ends at 4:30 pm.
Global Economy, Economic Environment, Regional Economic Integration, Money & Finance, GDP
Domestic demand has emerged as the decisive driver of economic activity in Europe. Business investment is near a takeoff that will bolster industrial production and consumer income beyond 2016. Factors that could derail this sunny outlook include the re-emergence of the Greek default and possible policy disagreements within the EU on Russia, the Middle East, or refugees.
U.S. manufacturers have faced numerous challenges in 2015, including a stronger dollar, heightened uncertainty about slowing economic growth in China and the dramatic fall in the prices of oil and natural gas which has proven to be a two-edged sword.