Manufacturers optimistic about revenue growth

Chicago—A new survey by Prime Advantage found that 80% of manufacturers expect revenue for the second half of the year to either stay the same or increase over the first half.

Prime Advantage is a buying consortium of midsize manufacturers. The report was based on an online survey of 96 representatives of industrial manufacturing companies, including business owners, procurement VPs and other purchasing professionals.

When a similar study was conducted by Prime Advantage in February, only 38% of manufacturers said they expected revenue to increase or stay the same over 2008.

In other survey findings, 31% of manufacturers said they expect capital spending to decrease from the first half of the year, compared with 66% of respondents who expected capital spending to decrease from 2008 levels in the February survey.

Also, 25% of respondents expect revenue to increase up to 10% in the second half, and 12% predict an increase of more than 10% for the remainder of the year.