The U.S. economy is poised to expand 2.8% this year, but will decline 2.5% in 2011 before rebounding to 3.2% growth in 2012, according to the latest report by the Manufacturers Alliance/MAPI. The report forecasts that manufacturing production will grow 5.8% in 2010, 4% next year and 4.9% in 2012. "Consumers are deleveraging and paying off debt, and we do not believe easy credit will return in this expansion," said Daniel J. Meckstroth, Manufacturers Alliance/MAPI chief economist.

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