--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

 
Wednesday, December 8, 2004
   

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ISM's 90th Annual International Supply Management Conference

In This Special Issue...

Economic Growth to Continue in 2005
Manufacturing Expansion Continues
Revenue to Grow 7.8%
Capital Spending Up 1.6%
Capacity Utilization at 83%
Non-Manufacturing to Maintain Strength
Revenue Growth to be 5.9%
Capital Spending Up 1.8%
Capacity Utilization at 88.2%

Economic growth in the U.S. will strengthen in 2005, say the nation's purchasing and supply executives in their 68th Semiannual Economic Forecast. Expectations for 2005 are higher in both the manufacturing and non-manufacturing sectors, and both sectors are more optimistic about the coming year than they were one year ago for 2004. The overall prediction is for economic growth to continue at a relatively strong level in 2005.

These projections are part of the forecast issued by the Business Survey Committee of the Institute for Supply Management™ (ISM). The forecast was released today by Norbert J. Ore, C.P.M., chair of the ISM Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation; and by Ralph G. Kauffman, Ph.D., C.P.M., chair of the ISM Non-Manufacturing Business Survey Committee and coordinator of the purchasing and supply management program at the University of Houston-Downtown.

To access the complete report click here.

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Term of the Day

Today's ISM Term of the Day is: Electronic Funds Transfer (EFT)..

Definition: The electronic transmission of funds from one party (purchaser) to another (supplier).

A different Term of the Day is posted on the ISM Home Page (www.ism.ws) each day -- 7 days a week. The Term of the Day is taken from the Glossary of Key Supply Management Terms.

ISM members can access the online Members Only Glossary of Key Supply Management Terms which includes terms from the private, public, and various industry sectors, and from a wide variety of sources. The Glossary can be browsed alphabetically, or searched by keyword.

To access the Glossary click here.

If you are not a member but would like membership information click here.

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Questions/Comments? Contact RaeAnn Slaybaugh.

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