The manufacturing and construction industries expect to benefit from the nation’s strong economy and grow steadily during the next three months, according to two new Dun & Bradstreet surveys.
Manufacturing production and new orders accelerated during the past three months and are now significantly higher than at this time last year.
“Manufacturers do not expect a departure from the prevailing high-growth economic environment during the coming months,” said Joseph W. Duncan, chief economic adviser to Dun & Bradstreet. In fact, Duncan said, growth is likely to continue well past the summer.
The construction industry also expects a strong spring to lead into several more months of steady growth. Duncan said the stable economy has stimulated commercial and residential construction.
But while new orders and selling prices are high, hiring in the construction industry hasn’t accelerated. Employment is below average for the season and executives said they were only somewhat likely to hire more workers in the next three months.