According to trade association PMMI's "Quarterly Economic Outlook: Planning for 1st Quarter 2012", economic growth will continue this year, with the slow pace starting to pick up mid-year and accelerating afterwards.
In its report released on January 19, PMMI describes the economy as realigning itself post-recession, and notes that businesses and the US economy are on more secure footing today than at the time of the 2008 financial collapse.
PMMI explains that on top of an upward growth in the US Leading Indicator, the Purchasing Managers Index has not fallen below the midpoint of 50, indicating growth. Non-defence capital goods new orders excluding aircraft are expanding, though the pace is slower than a year ago. Retail Sales slowed in the last half of 2011, but remain positive, showing 2.4% growth above the year earlier. Furthermore, corporate bond prices, money supply and stock prices are all rising, PMMI says.
The report also analyzes six important market segments: Pharmaceutical & Medical Devices; Personal Care; Beverages, Coffee & Tea; Chemicals & Cleaning Products; Consumer/Commercial Industrial Durables, Hardgoods, Components & Parts; Food and Food Preparation. It is produced by the Institute for Trends Research.
PMMI is a trade association of about 600 member companies that manufacture packaging, processing and related converting machinery in the United States or Canada; machinery components and packaging containers and materials.
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