US manufacturers are growing increasingly optimistic about the economy, according to a new poll conducted by the co-sponsors of the upcoming FABTECH® International & AWS Welding Show, including METALFORM, in Chicago.
More than half (53 percent) of the US manufacturing executives polled indicated they have seen or experienced signs that signal the start of an economic recovery. The survey of 1,046 past or prospective registrants of the FABTECH event was conducted in late July.
Leading the way of positive signals reported were an increase in new sales inquiries (27 percent), followed by an increase in orders (23 percent), reduced layoffs (18 percent) and the need to replenish inventory levels (14 percent).
Additionally, more than one quarter surveyed – 27 percent – agree with economists’ forecasts that the US economy will return to moderate growth in the third and fourth quarters of 2009.
“These findings are in line with what we are hearing from other industry sectors, as well as economists’ assessments that the economy is gradually improving,” said Mark Hoper, FABTECH show manager. “Thus, it’s important for manufacturers to take advantage of this pending recovery period.”
The FABTECH® International & AWS Welding Show, North America's largest metal forming, fabricating, and welding exposition and conference, will take place November 15-18.