MAPI is predicting U.S. gross domestic product will grow 2.8% this year, a forecast it has revised upwardly from 2.6% in December. The alliance also predicts manufacturing production will grow 3.2% this year and 4% next year. "The economic environment we expect for the next two years is for decently strong employment growth, a falling unemployment rate and relatively low inflation," said MAPI Chief Economist Daniel Meckstroth. A rebound in the housing market will spur the fastest growth in manufacturing, he added.

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