Factory, services revenue to rise in 2013: ISM

NEW YORK Tue Apr 30, 2013 11:15am EDT

Ford Assembly workers install a battery onto the chassis of a Ford Focus Electric vehicle at the Michigan Assembly Plant in Wayne, Michigan November 7, 2012. REUTERS/Rebecca Cook

Ford Assembly workers install a battery onto the chassis of a Ford Focus Electric vehicle at the Michigan Assembly Plant in Wayne, Michigan November 7, 2012.

Credit: Reuters/Rebecca Cook

NEW YORK (Reuters) - The manufacturing sector is forecast to continue to grow this year, with both revenue and investment seen increasing, an industry report showed on Tuesday.

Manufacturing revenue is expected to increase 4.8 percent in 2013 from the year before, the semi-annual forecast from The Institute for Supply Management (ISM) said.

Revenue in the non-manufacturing sector, which is made up mostly of service sector businesses, is expected to gain by 3.5 percent.

Capital investment among manufacturing firms is seen jumping 9.1 percent this year, and increasing by 3.5 percent in the service sector.

The projections are issued by ISM's Business Survey Committee.

(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)

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