The majority of manufacturers surveyed by Prime Advantage in its 10th Group Outlook Survey report healthy revenue projections, and strong hiring and capital spending plans for the second half of 2012. However, for a small portion of respondents, these plans may see delays due to uncertainty about the results of the federal elections.
Forty-eight percent of respondents expect to see their revenues increase from the first half of 2012, and overall increase in customer demand was named the primary reason for the revenue growth in 58 percent of responses. According to the study, the cost pressures from raw materials continue to lessen, and midsized manufacturing companies expect to increase new hires at a greater rate in the second half of 2012 compared with the same period in 2011. Healthcare costs have become the second highest cost pressure concern for manufacturers.
Prime Advantage is a buying consortium for midsized manufacturers. To request a copy of the survey, visit primeadvantage.com/groupoutlook.