DEED Survey: Manufacturing Conditions Look Positive For 2016
Manufacturers in Minnesota are confident about conditions looking ahead, according to a recent survey, with nearly nine out of 10 businesses saying they will increase production or hold it steady in 2016.
The Minnesota Manufacturing Business Condition Survey, conducted by the Department of Employment and Economic Development (DEED) and the Federal Reserve Bank of Minneapolis, found that few employers in the sector were worried about global trends in Europe and Asia or domestic issues.
Among the findings of the study were a number of areas where manufacturers expect conditions to maintain or increase:
- Exports: 91 percent
- Productivity: 95 percent
- Profits: 80 percent
- Investments: 79 percent
- Orders: 84 percent
Few employers said they were affected by exchange rates and a strong dollar.
The results contradict those of the Mid-America Business Conditions Index, which tracks growth in manufacturing throughout the Midwest. The October index indicated economic contraction for the industry.
The full survey can be viewed here.