For 2012, ISI likewise cut its forecast to 6% growth, down from 10%, with consumer sector demand of 8%, down from a previously forecast 12%, and commercial growth of 4%, down from a previously expected 7%.
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But when Mr Osborne drew up his plans to cut public borrowing, he did think he could count on the private sector - especially private sector demand from the rest of the world - to fill most of the gap.
Both within and outside of the auto sector, the confluence of policy, consumer demand and automaker investment will boost employment and the economy as a whole.
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Rapid tooling-up of China's manufacturing sector means a massive demand for energy - one of the factors which has kept world oil prices sky-high for most of this year.
For the IT panel sector, the continuation of weak demand for panels used in notebook PCs and monitors was offset by strong demand for tablet PC panels.
If we allowed the nonprofit sector to build the kind of demand for philanthropy that Hollywood builds for movies, we would be on our way to the necessary scale.
While bailouts of various private entities in the financial sector may have been necessary, if not extremely unseemly, to prevent a global economic meltdown, different considerations apply in the case of public sector pensions that demand federal forbearance.
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"We definitely think that there are signs of demand getting stronger across the technology sector, and Flextronics would be one of the beneficiaries of it, " said Keith Dunne, analyst at RBC Capital Markets.
Fewer raw materials will lead to an escalation of demand that the sector will not be able to satisfy locally.
The mild winter sets the sector up for a key test of underlying demand.
The Keynesian story goes like this- if there is collapse in private sector demand due to a failure of business confidence or some other economic shock, then rather than suffer unemployment and all the other negative consequences of recession it is possible for government through public spending to replace the lost demand and steer the economy back to full employment.
He said that with the global economy still struggling, "there are limits to the ability of domestic policy to stimulate private sector demand as the economy adjusts to a new equilibrium".
In this post-financial crisis world, the Fed has taken a Keynesian edict and turned it on its head: instead of the government stepping in after a crisis to make up for the loss of aggregate demand from the private sector, it has fallen to central banks.
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Government spending had to ramp up, as you all suggested and we believed, had to ramp up to offset the contraction of the private sector spending as well as demand -- which, by the way, was a difficult concept to translate and transmit to the American people.
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"There is still a shortage of homes being constructed and demand in the rental sector remains strong, " he says.
The review of the manufacturing engineering sector also highlighted a long-running demand for skilled machine operators, welders and graduate engineering positions.
Foundations, with their government and private-sector partners, can base expectations on the realities of supply and demand for hiring, business activity and residential growth.
It's a risky sector, in the sense that the demand level in much of it, in any given year, is at the whim of taxpayers--and taxpayers are not in a spending mood these days.
Over time, as more supplies of services are eventually provided to meet demand, service sector job growth and inflation should cool down as well.
"But the figures did not change the overall picture of a sector struggling to grow in response to rapidly weakening overseas demand, " Mr Tombs added.
Much of this increase in demand will come from the transportation sector and largely in the developing world, where poorer people will use oil and other conventional energy sources to improve their living standards.
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Our economic growth, which, I should note, has been continuing now for a number of quarters and has resulted in the creation of 3.7 million private sector jobs, also creates greater demand for oil and gas.
But Oshkosh made the same kind of mistake that many other well-run companies made at the height of the sub-prime housing boom, buying deep into the construction equipment sector at the top of the market and then suffering a staggering collapse in demand that impaired its capacity to meet debt obligations.
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Credit two years of pent-up demand and a rebound in the financial services sector, according to IEG senior editor William Chips.
Instead of trying to save particular jobs or groups of jobs, the government should encourage a vigorous private sector so that aggregate demand will be able to absorb those caught up in creative destruction or the job churn.
But retailers of all stripes are benefiting from investor optimism for the economy and pent-up demand on the part of consumers as stocks in the consumer discretionary sector, which is heavily weighted toward retail, is up an average of 12.8% this year.
However, the sector continues to hold its long-term growth factors of increasing global urbanization and growing energy demand from emerging economies.
Unregulated entities in this sector have different risks than regulated ones and their supply, demand curves are typically out of whack, Becker says.
Mainland developers were the main beneficiary of the rate cut, as the sector will be able to take advantage of cheaper funding costs and a possible increase in property demand.
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