NMW 2003: More firms expect to grow in 2003

About 68% of companies expect to grow more in 2003 than in 2002, according to a new survey by National Manufacturing Week (NMW) 2003's organizers Reed Exhibition Cos. (Norwalk, CT), with results analyzed by AMR Research (Boston, MA). "This is more optimism than we've seen in doing these surveys in the past year and a half," said Bill Swanton, AMR's vp and research fellow, at...

03/01/2003


Chicago, IL - About 68% of companies expect to grow more in 2003 than in 2002, according to a new survey by National Manufacturing Week (NMW) 2003's organizers Reed Exhibition Cos. (Norwalk, CT), with results analyzed by AMR Research (Boston, MA). 'This is more optimism than we've seen in doing these surveys in the past year and a half,' said Bill Swanton, AMR's vp and research fellow, at a March 3 press conference at the opening of NMW 2003 at Chicago's McCormick Place. Among small manufacturers, defined as those with less than 500 employees, 27% think the economic turnaround has already begun. That's significant, he says, because smaller companies tend to lead an economic recovery. Overall, respondents indicated that capital-spending expectations for 2003 increased slightly over 2002. Mr. Swanton added that the survey's respondents also reported that: globalization is an opportunity, not a threat; potential war with Iraq will hurt firms economically more than it will help; 14% of large companies expect to outsource more, compared to 7% of small companies; and that when building or buying new plants, small companies stick close to home, while large companies have major efforts in China.





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