Despite challenging environment, manufacturers maintain positive outlook
With employment in the United States rising and the dollar gaining strength, it is tempting to think that the U.S. economy has recovered.
After the softening of manufacturing production, expectations are not quite as high as they were a year ago. Yet industry executives remain positive and anticipate healthy profits to come 1. Their outlooks depend in part on export expectations; a significant majority of those who anticipate increasing exports were positive about their own company’s forecast 2.
Industry executives in U.S.-based companies, however, are being challenged as never before by offshore competition. Because the U.S. economy has made the domestic market so attractive, more than half of non-U.S. manufacturers planning to sell products and services outside their home countries are entering the U.S. market.
Following are key challenges and opportunities associated with global growth for manufacturers, as identified by the RSM Monitor:
1 RSM Manufacturing & Distribution Monitor survey
2 National Association of Manufacturers