"There has been some concern that economic weakness would lead to businesses cutting their advertising spending, which would affect the Internet," said Mr. Van Horn. "However, we estimate that Internet advertising will account for a greater portion of total advertising expenditure over the next few years given that it can be targeted, and the relative price per ad is often low. This will help to offset any potential weaknesses in overall advertising spending."
As consumers' attitudes toward biotechnology products improve, the industry is reaping long-awaited rewards, expecting to grow by 12.9 percent this year. Another factor influencing the biotechnology sector's success, according to IBISWorld, is improved intellectual property rights legislation -- and enforcement -- worldwide, as well as strengthened demand for medical and pharmaceutical products to cope with an ageing, and ailing, U.S. population.
Finally, rising demand for biofuels is good news for the biotechnology sector, with the Department of Energy estimating ethanol usage could reduce U.S. petroleum-derived fuel consumption by up to 30 percent by 2030. The biotechnology sector has allowed the U.S. farming industry to rapidly increase its supply of corn and soybeans -- the main inputs into biofuels -- by developing genetically-modified seeds which are resistant to pests and drought. And by boosting farm productivity, biotechnology plans a crucial role in ensuring that biofuel production targets are met.
Rich Resources Driving Manufacturing Growth
Increasing sales volumes and higher average unit selling prices will
foresee growth in manufacturing machinery for mining and oil and gas fields
increase by 9.7 percent this year. Mr. Van Horn said rising domestic
demand, as seen by growth in the number of U.S. drilling rigs and
increasing exports were underpinning sect
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