The 2014 “McGladrey Manufacturing and Distribution Monitor” survey was released June 25, revealing small and midsize manufacturers in the U.S. are increasingly optimistic about growth prospects in the immediate future and a majority of them plan to add a significant number of jobs as business conditions improve.
Chicago-based McGladrey, a national accounting and audit firm, maintains a Stamford office.
This year”™s report found the industrial sector coming off a strong year but expecting even better results in the next 12 months.
A majority of executives (69 percent) reported growth in domestic sales over the past year, while 88 percent expected their numbers to go up in the coming year. The average sales uptick was projected to be 8 percent.
In addition, 67 percent of surveyed executives reported they expect their profit (before taxes and interest) to rise over the next year, with nearly a quarter (24 percent) expecting increases of more than 10 percent.
The survey yielded similar results for New England, McGladrey reported. McGladrey will flesh out details at a pair of informational meetings for the press July 16, one in New Haven and one in Stamford.
