Prime Advantage recently released the findings of its ninth edition of the CFO Survey, revealing the current and future financial health of midmarket manufacturers across a variety of sectors. The results show that optimism in manufacturing among our Members is at its highest levels since the annual survey’s inception, as well as the most positive outlook for the economy in years.
A survey record high of 71% of Members are more optimistic about their companies’ financial prospects for the coming year as compared to last. This result is a 17-point jump from 2016, the largest year-over-year increase in optimism since 2010. Faith in the U.S. economy has absolutely skyrocketed compared to last year, as 74% of financial executives are more optimistic than they were at this time last year. This 48-point catapult over 2016 is by far the largest increase for this category since the survey began.
This projection of fiscal health for the coming year is largely credited to new product lines, new customer acquisitions, and an overall increase in customer demand. Expectations are high as 84% are stating that revenues will increase in 2017. And a survey history low of only 2% expect a decline, a 9-point drop over the previous year.
Comparisons to four outside surveys are also included in the report:
- Duke University/CFO Global Business Outlook
- NAM Manufacturers’ Outlook Survey
- Executive Perspectives on Top Risks for 2017
- PwC Manufacturing Barometer
For more insights into what manufacturers are projecting for the coming year, see the full report.