Daniel J. Meckstroth, Ph.D., vice president and chief economist
Our forecast for 2013 is that 14 of the 24 industries for which our modeling allows a detailed forecast will grow, 4 industries will be flat and 6 will decline. We believe concerns over business prospects in Europe, the uncertainties about the U.S. fiscal cliff and federal deficit reduction negotiations and an increase in worrisome regulations have encouraged businesses to sit on the sidelines and wait to see what happens. We forecast that manufacturing production will increase 2% in 2013 and 3.2% in 2014, and then average 3.6% growth from 2015 to 2017. Economic Outlook

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