Springfield, MO – KPM CPAs & Advisors (KPM) in conjunction with The Leading Edge Alliance (LEA Global) have jointly released the 2018 National Manufacturing Outlook and Insights Survey results. In late 2017, the survey was distributed electronically to LEA Global member accounting firms’ manufacturing clients across the county and additional manufacturers through local businesses and industry organizations; responses were kept anonymous.
Approximately 450 manufacturing executives from across the United States and beyond participated in the survey and responded with their expectations and opinions for their industry in 2018. A variety of manufacturing sectors are represented in the survey, including machining/industrial, construction materials, automotive/transportation, food and beverage, and other products.
Key insights from the report are as follows:
• Manufacturers’ national economic optimism increased 18.1 percent, compared to last year
• Manufacturers’ top three priorities are: growing sales, cutting costs, and addressing the talent gap
• 62 percent expect their sectors to grow
• 81 percent expect their revenue to increase
• 67 percent will invest in research and development initiatives
• 20 percent will consider acquisitions
• 75 percent will prioritize cybersecurity as their top technology focus
• 25 percent expect a moderate to significant decrease in taxes
• 50 percent expect to increase hiring and view labor shortages as a top barrier to growth
“KPM is happy to share these key manufacturing insights for 2018 with our clients, the community, and area manufacturers. Learning about these optimistic expectations from other manufacturers across the county will help us and our clients better prepare for the year ahead,” stated KPM Shareholder Gary Wells.
For additional 2018 manufacturing data and insight, download the full survey report presented by KPM and LEA Global here.
About The Leading Edge Alliance
Founded in 1999, LEA Global is the second largest international association in the world, creating a high?quality alliance of 220 independently owned accounting and consulting firms focused on accounting, financial, and business advisory services. LEA Global firms operate from 620 offices in more than 110 countries, giving clients of LEA Global firms access to the knowledge, skills, and experience of 2,313 partners and 21,355 staff members.
About KPM CPAs & Advisors
Since 1966, KPM has served a variety of industries and clientele, providing accounting, audit, tax, and consulting services to help their clients prosper. For years, KPM has held the position of second largest CPA firm in Southwest Missouri and was recently ranked one of the top 20 firms in the Midwest by Accounting Today and a top 300 firm by INSIDE Public Accounting. They are a member of LEA Global and have office locations in Springfield and Branson.