After a year of rebuilding, cost cutting and a focus on product innovation, U.S. manufacturers are feeling better about the economy’s prospects as they enter 2011. At the same time, though, they are expressing caution about what they expect to be a continual gradual improvement in the economy translating into improved business prospects in the new year.
Nevertheless, manufacturers say they will press ahead with hiring plans and technology budget increases this year. And at the top of technology product-buying intention lists are computer systems, wireless devices, automation systems, and software to track product quality.
These are just some of the findings of Managing Automation Media’s annual Outlook poll, conducted last month. More than 200 readers voiced their opinions about the state of the economy, their own business prospects, and their business and technology priorities for 2011.
Overall, confidence levels in the economy are up a solid 9 percentage points from last year, when a major turnaround in confidence occurred following the meltdown of 2009. This year, 66.3% of poll respondents say they expect a moderate improvement in the economy, the most closely watched indicator in the poll each year, compared with 57.4% last year. Moreover, fewer than a quarter of poll-takers this year, 21.5%, say they expect the economy to be flat, a shift of almost 10 points from the 31.7% who said so last year.