In "Global Growth in 2013—Outlook and Risk Factors", the Manufacturers Alliance for Productivity and Innovation (MAPI) queried 130 corporate leaders from its council programs, including CEOs, CFOs, presidents, and heads of operations, marketing, and sales on issues ranging from the current economic landscape to workforce development.
"Global uncertainty continues to be the status quo, but manufacturing executives are not deterred from plans to expand their global footprints," said Cam Mackey, MAPI vice president and survey coordinator. "Unfortunately, they share MAPI's concerns that global growth in 2014 will be anemic."
Among the key findings:
83% believe the Affordable Care Act will be a drag on their companies' growth; 79% feel the same about U.S. tax policy
72% feel that the manufacturing skills gap is a real issue, even if it isn't currently having a major impact on their companies
Most executives are cautiously optimistic about the 2014 outlook—nearly three-quarters expect sales to increase over 2013 levels (28% expect sales to increase by 5% or more)
Executives predicted a 22% likelihood of another recession in the U.S. by the end of 2014
Two-thirds expect weak employment to continue through 2014, if not longer
68% predict the Eurozone recession will last through the end of next year
65% expect slow or medium growth in China through 2014
Only 21% of respondents reported making fewer long-term investments in 2013 than in 2012
61% indicated that due in part to anemic global growth, the U.S. is an especially attractive place to invest in 2013
One-third anticipate that instability in countries such as Turkey, Syria, and Iran could slow global growth
"Not surprisingly, many executives told us that weak demand and customers' hesitation to spend will have a negative impact on growth in 2013," Mackey noted. "Most executives we've talked to continue to wait and see."
