HOUSTON--PKF Texas is pleased to release the results from the 2017 Leading Edge Alliance (LEA Global) National Manufacturing Outlook Survey. This survey was conducted in association with leading accounting firms across the country and the report is a benefit to our clients as part of our efforts to help co-develop the client experience with us as trusted advisors.
With more than 250 participants, this survey report contains expectations and opinions of manufacturing executives in more than 20 states across the country producing a wide variety of products including industrial/machining, transportation/automotive, construction, food and beverage, and others.
Results from the survey include:
- 74% of small manufacturers and 69% of large manufacturers expect revenue growth in 2017.
- Manufacturers are more optimistic about their local/regional economies than the national or global economies.
- The top priority for manufacturers in 2017 is “cutting operations costs”.
- 67% expect labor costs to “increase” and an additional 7% expect labor costs to “increase significantly” in 2017.
U.S. manufacturing industry headwinds are significant and include both internal issues, such as high inventory-to-sales ratios, the cost of technology, and labor shortages, as well as external issues like the price of raw materials and strength of the dollar.
“Being able to offer this tool to manufacturers will help us better serve our clients in 2017 and beyond,” said Kenneth Guidry, CPA, President, PKF Texas. “Having a greater understanding of the manufacturing industry perspectives from across the nation is invaluable insight for us to better serve as advisors for our clients in this industry.”
Access the survey by visiting www.PKFTexas.com/Manufacturing/.
About Pannell Kerr Forster of Texas, P.C. (PKF Texas)
Our clients enjoy the experience of co-developing solutions with our CPAs and Advisors, creating their success stories in Houston and around the globe. PKF Texas understands manufacturing and its opportunities for entrepreneurs at every stage of business, whether operations are local or international. Our clients represent a cross-section of sectors, relying on us for audit and accounting, entrepreneurial advisory, and domestic and international tax services. Through the Leading Edge Alliance, we have access to worldwide resources. To learn more about how we work with manufacturers, visit www.PKFTexas.com/Manufacturing/.