We took a deep dive into the world of over 100 top manufacturing executives in an effort to gain insight into their core business challenges and goals for 2019. The 22-question survey produced a robust report of findings and takeaways that will help you stay on top of key trends in the industry and ensure that you aren't being left behind.
The U.S. economy was undeniably strong in 2018 and was a productive year for many manufacturing companies. It’s not surprising to see that almost 40% of manufacturers surveyed expect their growth rate to be the same as the predicted industry growth rate of 6.6%. These findings coincide with the Spring 2018 Semiannual Economic Forecast, who expected to see strong growth in the manufacturing sector.
On average, manufacturing executives forecasted 6.6% revenue growth for 2018, with an increase in production capacity of nearly 5% and an increase in capital expenditures of nearly 10%. However, finding and onboarding qualified labor and being able to pass on raw material price increases will ultimately define manufacturing revenues and profitability.
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