By the Numbers: NAM/IndustryWeek 2013 Q3 Survey Responses

Sept. 9, 2013
Complete responses to questions from the NAM/IW Q3 Survey of Manufacturers.

1. How would you characterize the business outlook for your firm right now?

  1. Very positive – 14.7%
  2. Somewhat positive – 61.4%
  3. Somewhat negative – 23.2%
  4. Very negative – 0.7%

2. Over the next year, what do you expect to happen with your company’s sales?

  1. Increase more than 10 percent – 13.7%
  2. Increase 5 to 10 percent – 21.1%
  3. Increase up to 5 percent – 30.5%
  4. Stay about the same – 25.3%
  5. Decrease up to 5 percent – 6.7%
  6. Decrease 5 to 10 percent – 1.4%
  7. Decrease more than 10 percent – 1.4%

Average expected increase in sales consistent with these responses = 3.3%

3. Over the next year, what do you expect to happen with prices on your company’s overall product line?

  1. Increase more than 10 percent – 0.4%
  2. Increase 5 to 10 percent – 5.6%
  3. Increase up to 5 percent – 36.6%
  4. Stay about the same – 51.1%
  5. Decrease up to 5 percent – 4.9%
  6. Decrease 5 to 10 percent – 0.4%
  7. Decrease more than 10 percent – 1.1%

Average expected increase in prices consistent with these responses = 1.1%

4. Over the next year, what are your company’s capital investment plans?

  1. Increase more than 10 percent – 15.5%
  2. Increase 5 to 10 percent – 12.0%
  3. Increase up to 5 percent – 14.8%
  4. Stay about the same – 45.6%
  5. Decrease up to 5 percent – 6.4%
  6. Decrease 5 to 10 percent – 1.8%
  7. Decrease more than 10 percent – 3.9%

Average expected increase in investment plans consistent with these responses = 2.1%

5. Over the next year, what are your plans for inventories?

  1. Increase more than 10 percent – 2.1%
  2. Increase 5 to 10 percent – 5.3%
  3. Increase up to 5 percent – 14.4%
  4. Stay about the same – 56.3%
  5. Decrease up to 5 percent – 13.7%
  6. Decrease 5 to 10 percent – 6.3%
  7. Decrease more than 10 percent – 1.8%

Average expected increase in inventories consistent with these responses = -0.03%

6. Over the next year, what do you expect in terms of full-time employment in your company?

  1. Increase more than 10 percent – 3.9%
  2. Increase 5 to 10 percent – 7.7%
  3. Increase up to 5 percent – 18.7%
  4. Stay about the same – 59.5%
  5. Decrease up to 5 percent – 8.1%
  6. Decrease 5 to 10 percent – 1.4%
  7. Decrease more than 10 percent – 0.7%

Average expected increase in full-time employment consistent with these responses = 1.1%

7. Over the next year, what do you expect to happen to employee wages (excluding nonwage compensation such as benefits) in your company?

  1. Increase more than 5 percent – 1.4%
  2. Increase 3 to 5 percent – 18.4%
  3. Increase up to 3 percent – 61.0%
  4. Stay about the same – 18.4%
  5. Decrease up to 3 percent – 0.7%
  6. Decrease 3 to 5 percent – none
  7. Decrease more than 5 percent – none

Average expected increase in wages consistent with these responses = 1.7%

8. Over the next year, what do you expect to happen with the level of exports from your company?

  1. Increase more than 5 percent – 17.7%
  2. Increase 3 to 5 percent – 9.2%
  3. Increase up to 3 percent – 15.2%
  4. Stay about the same – 54.1%
  5. Decrease up to 3 percent – 2.1%
  6. Decrease 3 to 5 percent – 1.1%
  7. Decrease more than 5 percent – 0.7%

Average expected increase in exports consistent with these responses = 1.4%

9. What are the primary drivers of your company’s future growth strategies?

(Respondents were able to check more than oneresponse; therefore, responses exceed 100%.)

  1. Increased efficiencies in the production process – 57.2%
  2. Increased international sales – 46.8%
  3. New product development – 56.1%
  4. Recent mergers or acquisitions – 10.4%
  5. Stronger domestic economy and sales for our products – 65.1%

10. What are the biggest challenges you are facing right now?

(Respondents were able to check more than one response; therefore, responses exceed 100%.)

  1. Attracting and retaining a quality workforce – 45.2%
  2. Challenges with access to capital or other forms of financing – 5.3%
  3. Rising energy and raw material costs for our products – 30.4%
  4. Rising health care/insurance costs – 74.6%
  5. Unfavorable business climate (e.g., taxes, regulations, government uncertainties) – 72.1%
  6. Weaker domestic economy and  sales for our products – 55.1%
  7. Weaker global growth and slower export sales – 30.0%

11. What is your company’s primary industrial classification?

  1. Apparel and allied products – none
  2. Beverages and tobacco products – 0.4%
  3. Chemicals – 6.0%
  4. Computer and electronic products – 2.1%
  5. Electrical equipment and appliances – 6.0%
  6. Food manufacturing – 2.1%
  7. Furniture and related products – 1.4%
  8. Leather and allied products – none
  9. Machinery – 14.4%
  10. Miscellaneous manufacturing – 14.0%
  11. Nonmetallic mineral products – 1.8%
  12. Paper and paper products – 1.8%
  13. Petroleum and coal products – 0.7%
  14. Plastics and rubber products – 7.4%
  15. Primary metals or fabricated metal products – 31.6%
  16. Printing and related activities – 1.4%
  17. Textile mills or textile products – 1.4%
  18. Transportation equipment – 4.2%
  19. Wood products – 3.5%

12. What is the size of your firm (e.g., the parent company, not your establishment)?

  1. Fewer than 50 employees – 23.2%
  2. 50 to 499 employees – 51.4%
  3. 500 or more employees – 25.4%

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