Small and Medium Sized Manufacturers Continue Expansion
In the fourth annual “Group CFO Survey,” CFOs stated they continue to see solid signs of the economic recovery in U.S. manufacturing. The survey was conducted by Prime Advantage, a buying consortium for midsized manufacturers, revealing financial projections and the top concerns of its member companies’ CFOs. The companies planned to add more jobs, increase wages and capital expenditures; however, the availability of skilled talent is a growing challenge. The CFOs were more optimistic about their own financial prospects now than in the last two years; 79 percent out of 100 in 2012 compared to 63 percent out of 100 in 2011. Only 2 percent were less optimistic about 2012. Fifty-seven percent cite more new orders now than at this time in 2011. Respondents were slightly less optimistic about the overall U.S. economy, with 67 percent more optimistic and 12 percent less optimistic; compared to 74 percent and 3 percent respectively in 2011. CFOs listed their top priorities as cutting operational costs, developing new products and long-term strategic planning. For complete details, visit www.primeadvantage.com/cfooutlook.