TEMPE, Ariz., May 13, 2020 /PRNewswire/ -- Institute for Supply Management® (ISM®) will release the Spring 2020 Semiannual Economic Forecast on Friday, May 15, at 11 a.m. Eastern Time.
After more than 10 years of expansion, the U.S. economy contracted last month, as documented by the April 2020 Manufacturing and Non-Manufacturing ISM Report On Business®, released at the beginning of May. This unexpected contraction is attributed to the ongoing response to the COVID-19 pandemic.
In the Spring 2020 Semiannual Economic Forecast, ISM will present the best thinking of its renowned Business Survey Committee, which is responsible for the monthly Manufacturing and Non-Manufacturing ISM Report On Business®. These supply management executives will address such important questions as:
- How much might business revenues be impacted?
- What is the outlook for year-over-year change in employment?
- How might the pandemic change capital investment plans for the rest of the year?
- At what level of production/activity are businesses operating right now?
- Might production capacity recover by the end of the year?
- What are expectations for the prices of business inputs?
These questions and others will be answered in the forecast.
As with the monthly reports, information will be provided on the potential relative performance of non-manufacturing sectors and manufacturing sub-sectors. For context, historical reported results and predictions from the Fall 2019 Semiannual Economic Forecast and Spring 2019 Semiannual Economic Forecast will also be featured in this report.
About Institute for Supply Management®
Institute for Supply Management® (ISM®) is the first and leading not-for-profit professional supply management organization worldwide. Its 50,000 members in more than 90 countries around the world manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 by practitioners, ISM is committed to advancing the practice of supply management to drive value and competitive advantage for its members, contributing to a prosperous and sustainable world. ISM empowers and leads the profession through the ISM Report On Business®, its highly-regarded certification and training programs, corporate services, events and the ISM Mastery Model®. Its Manufacturing and Non-Manufacturing ISM Report On Business® are two of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. For more information, please visit instituteforsupplymanagement.org.
Kristina Cahill, Report On Business® Analyst
ISM®, ROB/Research Manager
480-752-6276, Ext. 3015
SOURCE Institute for Supply Management