Manufacturing Executives Poll indicates economic recovery.August 26, 2009 -
According to a poll conducted in late July, 53% of questioned manufacturing executives indicated they have seen/experienced signs that signal the start of economic recovery. Positive signals included increases in new sales inquiries (27%) and orders (23%), reduced layoffs (18%), and the need to replenish inventory levels (14%). Additionally, 27% of those polled agree with economists' forecasts that the economy will return to moderate growth in the third and fourth quarters of 2009.
Manufacturing Executives Report Signs of Improving Economy in New Poll
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Press release date: August 24, 2009
FABTECH 2009 Provides Solutions to Survive Recession and Prepare for Recovery
DEARBORN, Mich., August 24, 2009 - Optimism about the economy is beginning to permeate among the ranks of recession-wracked manufacturers, 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 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 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. In fact, one keynote address during FABTECH offers strategies designed to prepare businesses for the economic turnaround, and other sessions explore similar issues tied to the economy."
Taking place November 15-18, the FABTECH® International & AWS Welding Show, including METALFORM, is timed to provide manufacturers with the latest tools, technologies and processes to improve their business in uncertain economic times.
FABTECH is expected to draw some 35,000 attendees and 1,000 exhibitors to Chicago's McCormick Place. It is the largest tradeshow in North America dedicated to showcasing a full spectrum of metal forming, fabricating, stamping, tube and pipe, and welding equipment and technology.
"This event offers two keynote panel discussions and several free educational sessions that offer solutions and strategies for manufacturing executives to operate a more efficient and competitive business," said Hoper.
One strategy for potential growth to be a major focus at the show is in the energy sector. A panel discussion titled, "Energy - The Outlook is Bright, But Where Will It Lead Us", will connect experts from the wind and solar energy sectors who will discuss trends and forecasts, government issues and what it means to current and future suppliers. Separate Solutions Showcase presentations will highlight opportunities for metal fabricators in the surging wind and solar energy markets.
To register for the 2009 FABTECH International & AWS Welding Show, including METALFORM, call 800.733.4763 or 313.425.3000, ext. 4500 (outside the U.S. and Canada), or online at www.fabtechexpo.com.
Cosponsored by the American Welding Society (AWS), Fabricators & Manufacturers Association Int'l (FMA), Society of Manufacturing Engineers (SME), and Precision Metalforming Association (PMA), the event is the ultimate solutions showcase. Thousands of buyers and sellers from across the globe will gather at the exhibition to exchange products and services, network with peers, discover new products and vendors, and educate the industry on the latest technologies. The 2009 show also will include the first official METALFORM Pavilion exhibition that will display innovations in stamping technology.
About FMA The Fabricators & Manufacturers Association, Intl. (FMA), is a professional organization with more than 2,300 members working together to improve the metal forming and fabricating industry. FMA brings metal fabricators and fabricating equipment manufacturers together through technology councils, educational programs, and networking events, while providing the resources needed by companies to improve operations. FMA's technology affiliate, the Tube & Pipe Association, Intl (TPA), focuses on the unique needs of companies engaged in tube and pipe producing and fabricating. Visit www.fmanet.org for more information.
About AWS The American Welding Society (AWS) was founded in 1919 as a multifaceted, nonprofit organization with a mission to advance the science, technology and application of welding and allied joining and cutting processes, including brazing, soldering, and thermal spraying. Headquartered in Miami, Florida and led by a volunteer organization of officers and directors, AWS serves more than 50,000 members worldwide and is composed of 22 Districts with 250 sections and student chapters. For more information, visit www.aws.org.
About SME The Society of Manufacturing Engineers (SME) is the premier source for manufacturing knowledge, education and networking. Through its many programs, events and activities, SME connects manufacturing practitioners to each other, to the latest technology and the most up-to-date processes spanning all manufacturing industries and disciplines, plus the key areas of aerospace and defense, medical device, motor vehicles, including motorsports, and oil and gas. A 501(c)3 organization, SME has members in more than 70 countries and is supported by a network of technical communities and chapters worldwide.
About PMA The Precision Metalforming Association is the full-service trade association representing the $91-billion metalforming industry of North America. Its 1100 member companies include metal stampers, fabricators, spinners, slide formers and roll formers as well as suppliers of equipment, materials and services to the industry. Through advocacy, networking, statistics, the Educational Foundation, METALFORM tradeshows and MetalForming magazine, PMA helps lead innovative member companies toward superior competitiveness and profitability. Visit www.pma.org.