By Keiter CPAs
U.S. Manufacturers Expectations for 2019
Across the board, manufacturers are optimistic about the regional economy, sector growth, and increasing revenue expectations in 2019. In all aspects of business — technology will lead the charge. Spending will increase on big data, and business intelligence, while cybersecurity will be top priority for the rise of the Chief Security Officer. As hurdles abound, so do strategies for increasing productivity and improving efficiency. While no one can predict with certainty what will happen in the future, we hope the 2019 National Manufacturing Outlook and Insights survey report offers you a look ahead into what to expect.
Results from the 2019 Manufacturing Outlook Survey:
- The top three priorities for manufacturers in 2019 are growing sales, improving profitability, and addressing workforce shortage
- 48% of manufacturers expect international sales will increase in 2019 for their company.
- Manufacturers increased their regional optimism from 69.3 in 2018 to 70.75 in 2019 – a 12.5-point increase from 2017.
- More than 60% of manufacturers expect their sector to expand in 2019.
- Labor costs remain a tough pill to swallow as they continue to rise across the U.S. with 52% of manufacturers recognizing the concern.
- Cybersecurity is a priority for 34% of manufacturers who are focusing on technology development
Read full survey: 2019 U.S. Manufacturing Outlook Survey
For more accounting news and insights related to the Manufacturing industry, view our blog.
Questions on the survey? Contact us. We can help.
Gary G. Wallace, CPA | 804.565.6025 | gwallace@keitercpa.com
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About Keiter
Keiter was founded in 1978 and provides a full range of financial services to entrepreneurial-minded businesses and its owners. Keiter has over 140 employees and is the largest, local independent accounting firm in Richmond. Keiter has developed specialized expertise in serving the manufacturing, real estate, construction, and financial services industries, as well as not-for-profit entities. Keiter has developed specialized expertise in serving the manufacturing, real estate, construction, and financial services industries, as well as not-for-profit entities. Our manufacturing industry team partners with over 50 local and national manufacturing clients to provide accounting insights and opportunities specific to their industry.
About LEA Global
Founded in 1999, LEA Global/The Leading Edge Alliance is the second largest international association in the world, creating a high-quality alliance of 220 independently owned accounting and consulting firms focused on accounting, financial, and business advisory services. LEA Global firms operate from 620 offices in 110 countries, giving clients of LEA Global firms access to the knowledge, skills, and experience of 2,313 partners and 21,355 staff members.
About the Author
Keiter CPAs
Keiter CPAs is a certified public accounting firm serving the audit, tax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial services, construction, real estate, manufacturing, retail & distribution industries and nonprofits. We also provide business valuations and forensic accounting services, family office services, and inbound international services.
More Insights from Keiter CPAsThe information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
