Despite numerous economic concerns, manufacturing CFOs are still suggesting potential for growth in 2008, according to an annual survey of U.S. manufacturing company CFOs commissioned by Bank of America Business Capital. The survey includes input from CFOs at 600 U.S. midsize and large manufacturers with revenues ranging from $25 million to $2 billion.
32% of CEOs plan to fuel their revenue growth through increased capital expenditures
26% forecast an increase in their cost of capital
74% cite cost of materials, supplies and equipment as their top financial concerns
35% say credit availability from their current lender has increrased over the past 12 months
21% expect their borrowing needs to increase in 2008 -- the lowest percentage in the 10-year history of the study