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BtoB

Survey finds manufacturers optimistic, despite economy

Published on .

Chicago—Manufacturers are optimistic about revenue growth and new hiring prospects this year, despite overall concerns about the economy, according to a new survey from Prime Advantage Group, a buying consortium of industrial manufacturers.

The report, conducted in January, was based on an online survey of about 100 business owners, VPs and directors at industrial manufacturing companies.

It found that 59% of respondents expect to see a revenue boost this year.

Also, 23% are planning new hires this year and 76% said they plan to keep their current employee base at the same level as 2007. Just 1% of respondents indicated that job cuts could occur this year.

More than 46% of respondents agreed that costs of raw materials (including stainless steel, nickel, copper and other metals and plastics) were a major concern this year. Energy costs were the second biggest concern (17.5%), followed by logistics and supply chain costs (16.4%).

—Kate Maddox

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