7.2. EDSR 03-11-2002 - Laserfiche WebLink

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• 1 • Survey shows Minnesota. _manufacturers cautiously optimistic about recover i Y n 2002 MINNESOTA MANUFACTURING BUSINESS SURVEY Compared to the second-half of 2001, during the next six months what do you expect from your business? Despite a sharp business downturn dur- 70 ing 2001, Minnesota manufacturing 41 oimpak companies expect business to stabilize 60 f or improve slightly in the first six g months of 2002, according to a joint 2 50 survey of state manufacturers in Up January and February by the'Minnesota 2- 40 ,fir Department of Trade and Economic8 Development (DTED) and the Federal E 30 popx 4co Ev Some Reserve Bank of Minneapolis. The survey shows a strong majority of e 20goi �„ Down manufacturers believe their operations i o g have stabilized following significant sec- 1111 11111: 11111111!"1!" Ilifilifil -- ' and-half decreases in orders, profits, production, employment and business Number of orders Product/service Employment Investment in Profits investments in plants and equipment. production level level plant/equipment While 43 percent of manufacturers believe their orders will increase during the first six months of 2002,only 23 per- tor's financial health seems to be there are strong indications that things cent believe their orders will decrease. improving as well. Although the results are beginning to improve.And it's good Similarly, 41 percent said they expect were mixed, more than 30 percent news that our state's manufacturing production to increase in the first half expected profits to increase compared businesses are stabilizing. This survey of 2002, while 21 percent anticipate with just 13 percent that reported suggests that we can anticipate further decreases in their production levels. increased profits during the second half improvement in the manufacturing sec- Meanwhile, the steep second-half of 2001. tor this year." .decline in manufacturing employment "Last year's national economic slow- "Manufacturing is an important corn- appears to have leveled off. Most manu- down hit the manufacturing sector par- ponent of the state and national facturers (80 percent) expect no fur- ticularly hard, especially in the second economies and while the sector took a ther workforce reductions, and 22 per- half of the year," said DTED Commis- hard punch in 2001, it wasn't a knock- cent say employment will likely increase sioner Rebecca Yanisch. "While the out blow," said Analysis and Evaluation during the first half of 2002. The sec- economy as a whole remains shaky, Director Bob Isaacson.