Durable goods will continue to lead the manufacturing expansion in 2006. The United States economy is bumping up against capacity constraints in many sectors and businesses, particularly non-manufacturing businesses, are stepping up investment spending.
Overall, it's going to be a moderate growth year, starting out with a bang and then weakening toward the end of the year.
Manufacturing is growing but the pace of growth has decelerated. The outlook for manufacturing production in 2006 is for moderate growth.
While the general economy was relatively flat in the fourth quarter of last year as measured by the gross domestic product, manufacturing production grew at an exceptionally strong 9 percent annual rate.
The back-to-back hurricanes in the Gulf Coast region within a three-week time span hit the country in the most vulnerable spot -- our carbon fuel supply.
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