• Economic Growth to Continue in 2005 -- Read more.
  
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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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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 Purchasing and Supply Terms.

ISM members can access the online Members Only Glossary of Key Purchasing and Supply 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 Cheryl Chadwick.

If you would like to sponsor this e-newsletter, contact Cindy Urbaytis.

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