The economy should continue to recover in 2012, according to the Institute for Supply Management’s semiannual economic forecast.

The manufacturing sector, overall, is positive about prospects in 2012, with revenues expected to increase in 17 industries, while the non-manufacturing sector appears slightly less positive about the year ahead, with 15 industries expecting higher revenues.

Capital expenditures, a major driver in the economy, will, however, increase only modestly in the manufacturing sector, while investment in the non-manufacturing sector will remain essentially flat.

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