Indiana Manufacturers Association Survey Shows Optimism Amid Pandemic

A graph indicating 90 different manufacturers' long-term optimism regarding their business in the next 18-24 months. 14 percent are very optimistic and 53 percent are optimistic, while 21 percent are stable and 13 percent are pessimistic. The survey was conducted in July 2020.

In a continuing effort to gauge the needs of the Indiana manufacturing community, the Indiana Manufacturers Association (IMA) conducted its July Indiana Manufacturers COVID-19 Survey.

“With the recent resurgence of COVID-19, we are happy to see continued optimism, with 67 percent reporting they are optimistic or very optimistic in the long term,” said IMA President and CEO Brian Burton.

The latest survey revealed that most manufacturers are optimistic about their future operations. On a scale of 1-10, with 10 being most optimistic, 14 percent gauged their optimism at 10, 20 percent at 9, and 26 percent at 8.

Short-Term Optimism

The outlook for the next 6-12 months showed that 8 percent are very optimistic and 38 percent are optimistic. By contrast, 36 percent are stable and 21 percent are pessimistic.

Long-Term Optimism

According to the data, manufacturers are more optimistic about the future the further forward they look. The 18-24-month outlook showed that 14 percent are very optimistic and 53 percent are optimistic, while 21 percent are stable and 13 percent are pessimistic.

Workforce

When asked about actions related to workforce, 37 percent have instituted temporary layoffs, 13 percent are doing rolling furloughs, 30 percent have reduced hours, and 12 percent have temporarily shut down.

For functions restricted from being carried out remotely, safety measures taken include risk mitigation programs, flexible work arrangements, and outsourcing of functions that trim costs.

With regard to automation, 31 percent said they had increased their exploration of automation, while 69 percent have not.

“The IMA continues to support manufacturers through timely webinars with various partners, the promotion of Purdue MEP’s Returning to Work Guide, a supply list where manufacturers may purchase personal protective equipment and safety gear, a resource page with links to valuable information and past webinar materials/recordings, and a forum for the exchange of information among forum members,” Burton said.

Click here to see the full survey results.

Formed in 1901, the Indiana Manufacturers Association is the second oldest manufacturers association in the country and the only trade association in Indiana that exclusively focuses on manufacturing. Indiana’s manufacturers employ more people and contribute more to the state’s gross domestic product than any other industry. The IMA represents more than 1,100 companies. IMA staff are recognized experts in areas including tax, environment, labor relations, human resources, energy, workforce development and healthcare.

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