By Keiter CPAs
Virginia Manufacturers along with other U.S. manufacturers should expect a slowing rate of decline in activity in the coming months according to a recent article in Reuters.
“The bad news is manufacturing is still contracting, but the good news is there are some signs of stabilization. There are still some dark clouds hovering over the first quarter and we hope consumers will return as savings are high,” said Thomas Costerg, an economist at Standard Chartered Bank in New York.
Manufacturers should expect slow growth in 2016 based on several factors with the main hurdle being a reduction in consumer spending. Read the full article for more details on U.S. manufacturing activity.
Our industry focused team is well versed in the issues facing manufacturing companies. We can provide you with accounting insights on ways to minimize tax and identify tax savings opportunities during these challenging times. Learn more. Contact us.
Source: Reuters, U.S. factories show signs of stabilization; consumers hibernate, Feb. 1, 2016
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.
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