Prime Advantage polled US manufacturing executives about their financial concerns of industrial manufacturing companies and found that they believe the prospects of their individual companies exceed that of the general economy.
“The results of our 2016 CFO Survey indicate a continuing state of manufacturing optimism, coupled with strong expectations for increased revenue for our members and endorsed suppliers,” said Louise O'Sullivan, founder, president and CEO of Prime Advantage in a written statement. “This is quite encouraging as it follows four previous years of growth and innovation for our manufacturing members.”
Prime Advantage Members' confidence is in contrast to participants in the Duke University/CFO Global Business Outlook, which have seen a continued decline in organizational optimism since December 2014, the company said. The company, a group purchasing organization for midsized manufacturers, has conducted the survey over the past eight years. The survey is a result of a January 2016 of top professionals at Prime member companies, who represent U.S.-based manufacturers in more than 25 different industries.
“We were pleasantly surprised at the results of the survey,” Mike McDonald, Vice President, business development and marketing at Prime Advantage told EBN in an interview. “Most companies said they were more optimistic about their prospects than about the whole economy. Our expectations were probably a little lower.”
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— Hailey Lynne McKeefry, Editor in Chief, EBN