Manufacturing sector predicts growth in 2012
Tuesday, June 05, 2012 Consumer Products & Services
While many have seen jobs go overseas during the past few decades, many manufacturers are expecting to increase hiring in the near future.
The recently released Industry Market Barometer, conducted by ThomsonNet.com, revealed that 75 percent of those asked said that their firms had plans to increase staff during 2012, while 53 percent said their companies had grown during 2011. The survey went onto reveal that nearly half - 48 percent - were currently hiring for positions including engineers, skilled tradesmen and line workers.
"Manufacturers know that they do more than sell products or provide services; they play a vital role in the growth of the American economy," says Eileen Markowitz, president of Thomas Industrial Network. "Their success is critical to the success of America. And as we can see from this report, the future is looking bright for all of us."
While manufacturers in the U.S. are expecting better results, European firms are continuing to experience setbacks. A composite index by London-based Markit Economics saw its figures drop from 46.7 in April to 46 in May, as debt crises continue to take a toll, Bloomberg reports.