A recent survey of Indiana manufacturers reveals rising optimism, with most respondents expressing a positive outlook on their future operations and the health of their business.
The Indiana Manufacturers Association recently completed its August 2020 COVID-19 Indiana Manufacturing Survey in its continual effort to gauge the needs of the Indiana manufacturing community.
On a scale of 1-10, with 10 being most optimistic, 23 percent gauged their optimism at 10 compared to 14 in July. Fourteen percent (14 percent) ranked optimism at 9 as compared to 20 percent in last month’s survey; and 27 percent ranked their optimism at 8 compared to 26 percent last month.
The outlook for the next 6-12 months showed that 16 percent are Very Optimistic, 36 percent are Optimistic, 41 percent are Stable, and 8 percent are Pessimistic.
The 18-24 month outlook showed that 17 percent are Very Optimistic as compared to 14 percent in July. Fifty-two percent (52 percent) are Optimistic compared to 53 percent in July. Twenty-two percent (22 percent) reported they are Stable compared with 21 percent in last month’s survey. And 11 percent revealed they are Pessimistic compared to 13 percent last month.
A lack of childcare appears to be having a profound affect on employers and employees, with 50 percent of respondents saying it has affected their operations.
When asked about production levels, 84 percent of respondents indicated that they are operating at between the 80 and 100 percent range.
When questioned as to whether or not the employer performs COVID testing on workers, 20% responded positively, while 88 percent of employers stated that they require employees to disclose whether they have been exposed to COVID-19.
The full survey results may be found here.
“While we still have a long way to go in the recovery, manufacturers appear to be finding ways to adapt and adjust in this uncertain environment,” said IMA President and CEO Brian Burton. “Economic activity in the manufacturing sector grew in August for the fourth consecutive month, with a PMI of 56 percent, up 1.8 percentage points from July’s reading of 54.2 percent. The IMA will continue supporting manufacturers with timely webinars, communications, and other resources.”