Year 2022 economic outlook, forecast or visionary to see future ahead, challenge and business opportunity concept, smart businessman climb up ladder to see through telescope on year 2022 number.

The manufacturing sector as a whole continues to rebound from the turmoil of the past two years. According to ISM’s Spring 2022 Semiannual Economic Forecast, manufacturing is expected to expand in 2022 and revenue is expected to increase on average by 9.2%. This is 2.7 percentage points higher than the December 2021 forecast of 6.5%.

Here’s what the food, beverage, and tobacco industry expects for the remainder of the year:

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  • Increased revenue
  • Employment growth
  • Production capacity increases
  • Year-over-year increases in capital expenditures
  • Price increases