Manufacturers Express Optimism for Overcoming Hurdles in 2019
Houston – PKF Texas is pleased to release the results of the third annual National Manufacturing Outlook and Insights Survey with Leading Edge Alliance (LEA Global). This survey was conducted in association with leading accounting firms across the country, and the report is a benefit to clients as part of the ongoing efforts to help co-develop the client experience.
This year’s survey encompasses the expectations and opinions of more than 350 participants located in over 20 states and Canada, producing a wide variety of products including machine/industrial, automotive/transportation, food and beverage, textiles, construction and more.
Some insight from the survey include:
The top 3 priorities for 2019 are growing sales, improving profitability and addressing workforce shortage.
More than 60% of manufacturers expect their sector to expand in 2019
Organic growth in the U.S., new product development and strategic alliances provide greatest opportunity for business in 2019.
The major hurdles for the year are increased raw material costs from new tariffs, rising labor costs due to inflation, lack of available talent and increased competition.
“We appreciate the participation of manufacturers for this survey,” said Michael Veuleman, CPA, Audit Practice Leader, PKF Texas. “With their shared knowledge and expertise, we have a better understanding of the industry, which is valuable insight to better serve our clients moving forward.”
To access the survey for more detail, visit www.PKFTexas.com/Manufacturing.
About Pannell Kerr Forster of Texas, P.C. (PKF Texas)
PKF Texas is a premier middle-market CPA firm in Houston, with a 33-year history focused on assisting entrepreneurial-minded businesses. We provide services in audit, accounting, domestic and international tax, entrepreneurial advisory, outsource and co-source accountancy, profit enhancement, employee benefit plan audits, fraud and forensics, internal audit and internal controls, state and local tax, incentives and credits to emerging and middle market companies across many industries. Through PKF International and the Leading Edge Alliance, we have access to worldwide resources. To learn more, visit www.pkftexas.com.