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Growing optimism among manufacturing sector

Posted: Friday, August 7, 2020

Source: Inside INdiana

Results of a monthly survey conducted by the Indiana Manufacturers Association reveals optimism among its membership about future operations.

The IMA has been conducting surveys during the pandemic to gauge manufacturers’ business outlook. The latest survey shows nearly half are optimistic or very optimistic. The outlook for the next 6 to 12 months showed that 8 percent are very optimistic, 38 percent are optimistic, 36 percent are stable, and 21 percent are pessimistic. Looking out two years ahead, 14 percent are very optimistic and 53 percent are optimistic.

“With the recent resurgence of COVID-19, we are happy to see continued optimism, with 67 percent reporting they are optimistic or very optimistic in the long term,” said IMA president and CEO Brian Burton.

When asked about actions related to workforce, 37 percent have instituted temporary layoffs, 13 percent are doing rolling furloughs, 30 percent have reduced hours, and 12 percent have temporarily shut down. With regard to automation, 31 percent said they had increased their exploration of automation, while 69 percent have not.

Click Here to view the IMA survey results.