National Manufacturing Outlook Survey Offers Look Ahead into 2019
For the third year, Anders has teamed up with the Leading Edge Alliance (LEA) to jointly release the results from the 2019 LEA National Manufacturing Outlook Survey.
More than 350 manufacturing executives participated in the survey from a variety of industries including industrial, machining, construction, transportation and automotive, and food and beverage, among others.
Results from the survey include:
48% of respondents expect their international sales to increase in 2019
81% expect their revenue to grow this year
Manufacturers are more optimistic about their regional economic outlook than in 2018
Top three priorities for 2019 are growing sales, improving profitability and addressing the workforce shortage
More than half of survey participants cited the labor shortage as the greatest risk or barrier to growth, and 62% of manufacturers expect to increase hiring
62% of manufacturers plan to increase spending on technology to generate organic growth in 2019, with cybersecurity, managing ERP consolidation and predictive business analytics being the top three priorities
Strategic manufacturers should have ongoing conversations with all of their advisors, including their accounting and tax provider, as to how to overcome these challenges and achieve their business goals. Please contact an Anders advisor with any questions.