MAPI forecasts that manufacturing production will grow 3.2% this year, an improvement over the 2.3% rate of 2013. By 2015, production growth is projected to reach 4%, a slightly downward revision from an earlier prediction of 4.1%. "Factors that were dragging down growth (mainly tax and other policy issues) were absorbed in 2013 and will not worsen over the next two years," said MAPI Chief Economist Daniel Meckstroth. He also noted that business investment-driven manufacturing was responsible for the recent acceleration in growth. "Firms have lots of cash, are profitable and have relatively high utilization rates," Meckstroth said.