Factory Buyers Express Optimism

Purchasing managers are more optimistic about the economy than they were a year ago, seeing see no discernible inflation and a modest increase in employment next year, according to a new survey.

Seventy-one percent of managers who buy supplies for U.S. manufacturers expect business to improve, the National Association of Purchasing Management said Tuesday in a semiannual forecast.

That compares with just 11 percent who expect business to worsen in the coming year. Altogether, the managers predict their revenues will rise an average of 5.4 percent, up from 4.9 percent at the same time last year.