Minnesota Manufacturers Upbeat
The latest news release from the Minnesota Department of Employment and Economic Development indicate a positive feeling from Minnesota manufacturers when it comes to the economy.
95% of manufacturers expect production levels to increase or stay the same in 2018. The survey also finds 94% of respondents expect orders to increase or stay the same this year and 90% expect exports to increase or stay the same. This data is derived from a survey of 269 firms which was taken in November.
The survey also included a question about automation. 45% indicated they had increased automation to augment productivity while 29% did so to reduce labor costs. 39% reported no increased use of automation.
Other findings in the survey indicated 94% expect employment levels to increase or stay the same. 87% are expecting to profits to increase or stay the same in 2018.