Chicago—Forty percent of small and midsize manufacturing companies expect to see increased revenue during the second half this year compared with the same period last year, according to a new report from Prime Advantage.
The report, “Prime Advantage Group Outlook Survey,” was based on an online survey of 528 business executives and purchasing professionals at small and midsize manufacturing companies conducted in August. There were 73 respondents.
It found that 47% of manufacturing execs said they expect revenue in the second half of the year to be flat compared with the second half of last year, while only 13% said revenue would decline in the second half.
The top cost pressures for manufacturing companies include raw materials (82%); base materials for components (72%); logistics (43%); and healthcare (40%).