Executives in the manufacturing and construction industries expect strong growth through early summer, Dun & Bradstreet Corp. reported last week.
But manufacturers said growth in production and new orders declined over the past three months, and construction executives reported employment remained well below normal.
“Manufacturers are optimistic that the economy will continue the healthy expansion we have seen for the past two years,” said Joseph W. Duncan, vice president and chief economist of Dun & Bradstreet.
Duncan said that while manufacturers expect prices to rise, they have found it difficult to make higher prices stick in the marketplace in recent months.
Construction industry executives also expect sustained growth in the coming quarter, although their expectations are lower than when previously surveyed.
“The construction sector is reaping the benefits of sustained economic growth and high consumer confidence,” Duncan said. “The potential for rising interest rates and continued high levels of consumer debt probably contributed to the sector’s more conservative posture in comparison to the February survey.”
Dun & Bradstreet, which conducted the surveys in March, surveyed 1,000 manufacturing executives and 200 from the construction industry.
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