Manufacturers Pessimistic about Recovery; Hiring Outlook Gloomy
Business leaders in the manufacturing space are pessimistic, with only a third (33 percent) expecting the U.S. economy to improve in the next six months, according to Grant Thornton's quarterly survey of U.S. business leaders. The hiring outlook for manufacturing companies is also gloomy -- only 37 percent of manufacturing business leaders report that their companies will increase hiring in the next six months.
Even though manufacturing business leaders' are not optimistic about the U.S. economy, their view of their own businesses is still good, with 77 percent feeling optimistic about their companies' growth over the next six months. With regard to the recession, more than three-quarters (77 percent) do not think it will end until 2011 at the earliest. Only one in five manufacturing business leaders (19 percent) say that the recession is already over.
Even though manufacturing business leaders' are not optimistic about the U.S. economy, their view of their own businesses is still good, with 77 percent feeling optimistic about their companies' growth over the next six months. With regard to the recession, more than three-quarters (77 percent) do not think it will end until 2011 at the earliest. Only one in five manufacturing business leaders (19 percent) say that the recession is already over.
When do you think the economy will come out of recession?
The survey was conducted between August 2-13, 2010, with more than 350 senior executives of which 52 were from the manufacturing industry. To see all the survey findings, please visit www.GrantThornton.com/BOI.