Survey Shows Worst of Recession Over, at Least for Minnesota Manufacturers
 Print this article | Send to Colleague
The worst of the recession is over for Minnesota's manufacturers according to the State of Manufacturing, a major survey research project sponsored by Enterprise Minnesota and partners. Less than one in ten manufacturing executives (9%) anticipates a continued recession in 2011, while 40% foresee economic expansion. Compared with the first State of Manufacturing survey two years ago, this represents a 47% decline in executives predicting recession and a 32% jump in those who project growth.
Fifty-one percent of executives expect their firm's annual gross revenues to increase in 2011, up from 44% in 2010, and up from just 23% two years ago. Thirty-nine percent expect their firm's profitability to increase, up from just 17% two years ago.
The survey was conducted via phone interviews with 400 manufacturing executives, representing a geographically proportional cross-section of Minnesota, over two weeks in January. The poll has an error rate of +/- 4%. The research was complemented by 17 focus groups conducted throughout Minnesota.
|
|
