US Manufacturers Remain Cautiously Optimistic About the US Economy Over the Next Six Months

26 Aug 2009

300 senior executives of US manufacturing companies participated in a survey commissioned by Baker Tilly Virchow Krause on the economy, the US cap-and-trade programme, international plans and IFRS accounting standards.

Key findings include:

  • Senior manufacturing executives are cautiously optimistic about the US economy in the next six months, but more pessimistic about their own sector
  • This downturn in the economy is toughest on small manufacturers, with a sizable minority struggling to make it through. Executives from larger companies are more likely to report they are using tools such as tax planning and negotiating vendor discounts. Larger businesses are also more likely to use foreign markets to diversify their revenue sources
  • US manufacturers remain focused primarily on serving domestic markets
  • US manufacturing executives oppose cap-and-trade proposals, though a sizable minority is somewhat supportive of the legislation. Support draws closer to even if cap-and-trade were instituted multilaterally and would not leave manufacturers without unregulated foreign competitors
  • Most senior manufacturing executives are not aware of the potential adoption in the US of International Financial Reporting Standards (IFRS).

Read the full findings from the report.

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