Optimism Returns to Manufacturing

A growing sense of optimism is returning to the manufacturing sector. According to the fourth Prime Advantage Group Outlook survey, this optimism is the result of improved revenues, customer demand, and hiring expectations. The “GO” survey seeks to determine the top economic concerns of midsized industrial manufacturers.

Among the highlights of the survey findings was that 80% of respondents expected revenue to stay the same or increase in the second half of 2009. This is a dramatic turnaround from the February GO survey, in which only 38% predicted revenue to stay the same or increase over 2008 numbers. Additionally, just 31% said that capital spending would likely decrease from the first half of 2009, whereas 66% indicated in February that capital spending would decrease from 2008 levels.

“The results of the latest Group Outlook survey show that small and midsized industrial manufacturers, across many sectors, are seeing new orders materialize,” says Louise O’Sullivan, president and founder of Prime Advantage. “These results indicate that the recovery is starting to gain traction across a broad spectrum of our economy.”
With several other survey results such as various cost pressures, purchasing, sourcing, and plans for the future, this article provides a keen insight into how manufacturers assess both the current situation and the prospects going forward.

Read the full article in Quality Magazine
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